Personal Finance and Insurance

It’s Time! How To Set and Reach Your Financial Goals

2011-12-30T06:27:00.000-08:00

It’s Time!

How To Set and Reach
Your FinancialGoals for the New Year

The New Year is upon us, and it’s time to set your financialgoals! Why would you wait around on something so important? The problem is,most people want to achieve higher financial goals, but they don’t trulyunderstand how to set goals and furthermore how to reach them.

Perhaps you’veset goals before, and they haven’t worked out, so you were discouraged. Thistime, to be successful, you must act on a plan. It’s time!

Before you start working on your financial goals plan, thereare some questions you must ask yourself. Be honest with yourself about thethings that are important to you.

Questions you needto ask yourself in setting your financial goal:

What do I want to attain financially?
Why is important for me to be financiallysecure?
Do I want to be comfortable or do I want tobecome wealthy?

Getting started requires two action steps; first, you needto determine your general financial goal and, second, you have to becomefinancially literate so that you can learn to think like the wealthy.

Do you really want to be wealthy? The answer to thisquestion is important because it will determine your efforts toward creatingwealth. Bear in mind that a “goal' is different from a “wish”. You may wish tobe wealthy, but that doesn't mean you've taken any practical steps to make thatwish come true. Having the “desire” to become wealthy is what you will need toachieve your financial goal.

Wishful thinking is merely a want, desire, on the otherhand, is a extremely potent. Desire is a supreme motivator that literallycreates a driving force. The truth about most people who claim to want successis that they actually do not desire success, what they desire is comfort andsecurity.

In the famous and bestselling book, Think and Grow Rich, author Napoleon Hill, outlines 13 SuccessPrinciples.

The 13 SuccessPrinciples are:

1. Desire

2. Faith

3. Auto-Suggestion

4. SpecializedKnowledge

5. Imagination

6. OrganizedPlanning

7. Decision

8. Persistence

9. TheMaster Mind

10. Transmutation

11. TheSubconscious Mind

12. The Brain

13. The SixthSense

Napoleon Hill’s success principles are as relevant today asthey were a century ago. In his book, Hill teaches you to think differently,and it is a must read for anyone wanting to become rich.

Would you like a free copy of the book, Think and Grow Rich?This book has created more millionaires than any other book or program everproduced. You can get a free copy just by clicking this link: Think and Grow Rich

If you've already earned enough money to start saving, thenlikely it has been invested with an eye toward security – since, perhaps, youcan't imagine yourself ever truly becoming wealthy.

In the book, Rich DadPoor Dad, author Robert Kiyoksaki, discusses his “Rich Dad’s” teachings. Hesaid most people dream of becoming wealthy, but it isn't their first choice.That's because the effort and uncertainty of becoming rich disturbs them andthey seek refuge in the easier goals of security or comfort.

People who makesecurity and comfort their first and second choices are often seeking a single'hot investment tip' – a simple, risk-free way of getting rich quick. Somepeople do get rich on one lucky investment, but all too frequently the moneythey amass is later lost. You can get a copy of Rich Dad Poor Dad here: RichDad Poor Dad

While many books have been written on the subject ofbecoming rich, this text is not intended to be a complete novel. What it isintended to do is motivate you to take action, NOW!

I’ve outlined a fewsimple steps on how to set and reach your financial goals. Your decision anddiscipline will determine your success. Remember, a quitter never wins and awinner never quits.

How To Set YourFinancial Goal in 7 Steps

Step 1: What is Your Financial Goal? (Be specific)

Step 2: Why is it Important to Achieve Your Goal? (Behonest)

Step 3: Set a Deadline to Achieve Your Goal (Break it down)

Step 4: Identify Your Obstacles (Recognize you will havechallenges)

Step 5: Identify Your Allies (Who/What can help youachieve your goal?)

Step 6: Develop Your Financial Plan (Simply write it down)

Step 7: Maintain a Journal or Record (Track your activity)

Now that you’ve set your financial goal it’s time to takeaction. ACTION IS THE MOST IMPORTANT STEP. You will likely find that you, likemost people, are a creature of habits. And, your habits determine yourdirection in life. If you want to achieve success with any goal, you will haveto form positive habits.

Habits typically take about 2 weeks of consistenteffort to be formed. After that they become a natural effort. In the beginningyou may have to force yourself to do the things you need to do to achieve yourgoal.

You must follow a process to get the desired result. Breakdown your larger goal into smaller goals. Reward yourself along the way whenyou reach your short-term goals.

Focus on what it is you want to achieve. Remind yourself ona regular basis why it is important for you to accomplish this goal. This meansthat you may have to post reminders or set alarms. You will want to find waysto interrupt any negative patterns that will keep you from reaching your goaland replace them with positive patterns. The best way to do this is by changingyour thoughts and by associating with others who are goal oriented.

Your attitude will determine your success in achieving yourgoal. Regardless of where you are financially right now, you can improve yourlife. Fill your mind with positive thoughts by reading positive books andturning off the negative news. When you view life with a positive mentalattitude you are leaps and bounds ahead of the rest.

Get started today on your financial goals, contact us for ano obligation Financial Review.

Yours to count on,
Barry Page, RFC
Registered Financial Consultant
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

Barry Page, RFC is recognized as a leading expert on lifeinsurance and private banking. He is a Registered Financial Consultant andindependent life insurance agent who helps clients with tax advantagedinvestment alternatives. He specializes in showing families how to protecttheir assets, income and lives utilizing a macro-financial approach toplanning.

His specialized knowledge and services help consumers find alternatives totraditional investing and the stock market that not only safely protects theirsavings, but also provide tax advantages. His business is based in OceanSprings, Mississippi and he services clients throughout the Southeast.

Where is Your Money?

2011-11-22T14:42:00.001-08:00

Where isYour Money? Over the years you’ve heard me discuss the many options for saving andinvesting. While many financial gurus are still telling you to “max out yourcontributions” to retirement accounts, I’m raising the warning flag again…

But, I’m not the only one this time. You need tolook no further than your newspaper or TV to find stories and articles ontheft, corruption and taxes… Here’s a few that made headlines:

Wall Street Journal: “Missing MF Global Funds Could Top $1.2 Billion”
http://online.wsj.com/article/SB10001424052970204443404577052143849159420.html/

ZeroHedge: "The Entire System Has Been Utterly Destroyed By The MF Global Collapse"
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty/

60 Minutes: “INSIDERS - Congressional Insider Trading”
http://youtu.be/x95uC_wzUX4/

CBS News: “Super committee's failure = super chance in 2012”
http://www.cbsnews.com/8301-215_162-57329393/super-committees-failure-super-chance-in-2012

InfoWars: “17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up”
http://www.infowars.com/17-quotes-about-the-coming-global-financial-collapse-that-will-make-your-hair-stand-up/

FOXNEWS: “National Debt Hits $15 Trillion”
http://www.foxnews.com/politics/2011/11/16/national-debt-hits-15t-as-congress-strains-to-cut-12t/

Washington Post: “Treasury to Tap Pensions to Help Fund Government”
http://www.washingtonpost.com/business/economy/treasury-to-tap-pensions-to-help-fund-government/2011/05/15/AF2fqK4G_story.html?fb_ref=NetworkNews/

Okay, enough with the bad news, my message is not to depressor scare you. My intent is only to create awareness and motivate you to takeaction towards taking control of your personal assets. As an advisor it is myjob, and I feel my responsibility, to warn you when you are at risk. I fear that the current economic situation,and the government control of U.S. retirement plans, will ultimately lead tothe confiscation of trillions of dollars in what most assume are privately heldassets. Why would you put another dime into a government qualified plan?

Here’s the good news, you have time to protect your assetsbefore this assault on your private assets. But, don’t wait… Take an honestinventory of what is most important to you, and protect your assets while youhave time.

Contact me via my website www.legacyinsuranceagency.com andI will show youin 45 minutes how you could benefit from a program tailored to your uniquecircumstances. I've developed a unique, no-obligation, Financial Check-Up thatcan protect you and your family from financial predators and economic pitfalls.There will be no pressure, and you will not be asked to buy anything at thismeeting.

Have a wonderful holiday!
Barry Page, RFC

Barry Page, RFC is a Registered Financial Consultant andLicensed Insurance Agent. He is an advocate for families and small business, andpublishes this blog and www.legacyinsuranceagency.comto promote financial intelligence.

What Would You Do If You Knew You Couldn't Fail?

2011-09-06T10:41:00.001-07:00

What Would You Do If You Knew You Couldn't Fail? Think about that for a moment. We often turn our heads or close our minds to new ideas because of fear. If you take it a step further, and consider the outcome being a positive one, then imagine the possibilities.

I have learned through the Infinite Banking Concept, that my capital has a cost, and I must recoup my capital outlay to practice this principle. You see my spending habits will cost me THOUSANDS of DOLLARS of MY OWN MONEY every year if I don't practice banking.

Now, let's take it a step further and discuss what it will cost you if you continue down the traditional path of financing and paying cash for your purchases. This is only 1 example out of numerous ways that you can transfer away your wealth over your lifetime.

Here's an example of purchasing a car: Automobile Financing
What would you do with 1 MILLYUN$?

So, you may be thinking that you're not going to purchase that many more cars or you'll buy used ones. What about your kids? and grandkids? You see, IBC is about keeping your money in the family.

And, have you thought about the Cost of College? Credit Cards? And, other purchases you will make.

The whole idea is to recapture the interest that you are paying to banks and finance companies for the major items that you will purchase over your lifetime, such as automobiles, major appliances, education, homes, investment opportunities, business equipment, etc.

"You finance EVERYTHING that you buy. You either pay interest to others or you give up the ability to earn interest by paying cash." ~Nelson Nash

Why would I be encouraging you to learn the Infinite Banking Concept? Because I want you to learn what I've learned, and yes, ultimately you may become a client. If you do, you will discover why my clients are calling me and thanking me during these tough, economic times. I am convinced that IBC will change your life, the way that it has mine.

You see, when I first got in the financial services business, I was encouraged to follow and teach others the same, tired methods of accumulating wealth that everyone else is using. I soon learned that those methods are a failure! If traditional financial planning worked, why do you think that so many people are broke and struggling to make ends meet?

These flawed methods of personal economics focus on the accumulation of wealth by consistently contributing to an account and compounding the interest earned over time. When we subject ourselves to this form of thinking we are limiting our human life value.

Over time fallacies and falsehoods develop into myths. Falsehoods developed and perpetuated by so called "financial gurus" limit our productivity and stifle our human life value. Myths destroy our confidence by instilling our minds with doubt and fear.

You have probably heard the following fallacies and myths:
1. You're in it for the long-haul.
2. High-Risk = High Returns.
3. The market has averaged 10-12% over time.
4. Work hard, go to college and get a good job.
5. Save money, get out of debt, invest for the long-term and diversify.
6. When you retire you'll be in a lower tax bracket.
7. When you retire you won't need insurance.

What makes theses Myths so Destructive is that they are based on a scarcity mindset, and are Perpetuated from Generation to Generation. When we embrace the scarcity mindset we are buying into the belief that our resources are limited. Scarcity fails to account for self-worth and further limits our opportunity for ownership and growth.

If you can't afford to wait 20-30 years to build retirement wealth then learn how the VELOCITY OF MONEY can turn your financial world around and put you in control of your money. Learn how banks grow their bottom lines and Use Your Money to make money, Learn HOW TO BECOME YOUR OWN BANKER.

Today, my entire practice revolves around teaching others about the Infinite Banking Concept. Because I've learned firsthand that it works, and I've seen the impact it can have on other people's lives. So, I'm reaching out to you, because I care about you and your family. I care that your family may be subjected to the same fallacies and myths that the financial institutions
and elite want you to believe.

TO DO NOTHING IS TO RISK EVERYTHING! You have NOTHING TO LOSE and EVERYTHING TO GAIN. Click this link to learn how you can take control of your finances: Becoming Your Own Banker

Yours to count on,
Barry Page, RFC
Registered Financial Consultant
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

Becoming Your Own Banker

2011-08-31T12:58:00.000-07:00

"Banking is the most important business in the world."
~R. Nelson Nash, Bestselling Author of Becoming Your Own Banker

Learn what banks know. Discover the Infinite Banking Concept by attending an educational workshop with Nelson Nash, author of the bestselling book, Becoming Your Own Banker, in Ocean Springs, MS on September 15th-16th.

You can register online for this once in a lifetime event here:

Becoming Your Own Banker Workshop Registration

Nelson Nash

By utilizing the Infinite Banking Concept, one can in essence, create their own private banking system, never having to depend on traditional banks or the government for money or financing again. You can finance your cars, kids education, and even business equipment through your own bank.

Becoming Your Own Banker

To understand privatized banking one must first understand how money flows. Our money flows through our lives and throughout the world, just as water flows through our bodies and the oceans. The ability to control this flow of money is the key to understanding how to create a private bank.

Lifetime Bank - Privatized Banking from Legacy Insurance Agency

You can create your own system for financing all of your purchases over your lifetime, and then pass it on to your heirs and family.

Click the link below to register online now, seating is limited::
Becoming Your Own Banker Workshop Registration

This event will change your life, I hope to see you there.
Barry Page, RFC
Infinite Banking Coach

Take Control of Your Finances and Avoid the Government Chaos!

2011-07-26T07:17:00.001-07:00

Take Control of Your Finances and Avoid the Government Chaos!

Our government is out of ideas... and chaos is taking control. In 2006 they didn't see the crisis coming? Then in 2008 they couldn't understand it, so they threw money at the problem. Then from 2009-2011 more bailouts and wreckless spending still haven't worked.

Meanwhile, American households knew that the problem was too much debt. Still, they have the gall to ask for more money and to raise the debt ceiling. The FED chief (Ben Bernanke of The Federal Reserve) claims that the money we've spent was "invested" and we are receiving a return on our investment. Yet, after over $7 TRILLION in losses, housing prices continue to fall, unemployment continues to rise, and new graduates can't get a job. You would think "they" would get it by now, more debt is not the answer.

Take a look at our current debt: http://usdebtclock.org Do you see any return?

While our Government can not solve their debt problems, you can! You don't have to depend on the government and the financial institutions. By taking responsibility for your financial decisions, you can create your own system of finance. One that will free you from the dependency of the government. Take the time to educate yourself and take control of your finances today by Becoming Your Own Banker.

Politicians are wasting your money and they want more! The reason that defaulting on our debt would cause problems is because we are in debt in the first place!!! Think about it... They are warning us that it would be harder for Americans to borrow money if we defaulted. Why? The FED and banks have BILLIONS of FIAT money sitting in vaults and interest rates are at the lowest points in history. What do you think the problem is now?

The very reason we are in this mess in the first place is because of DEBT, over leveraging and eased lending practices. This causes false hope and INFLATION. And, if you haven't felt it yet, it's coming. Government needs to be smaller and we need to abolish the FED. We need to take control of our finances and STOP being dependent on the government and the financial institutions.

Depending on where you went to school, you probably learned about economics from a Keynesian perspective. This is exactly what our government is doing now, trying to spend our way out of an economic problem. Contrary to this belief, free markets should be allowed to exist, and money creation out of thin air should not.

Austrian Economics is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated mathematically or politically.

Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian approach offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice.

You can learn more about Austrian Economics and sit in on live classes via the web, absolutely free of charge from the Mises University. Just click this link: Austrian Economics Taught Here.

This should give you plenty to think about, and hopefully you will see the light at the end of the tunnel. Our country's current problems are rooted in debt and overspending. More government control of our financial decisions and more spending are not the answers. You do not have to depend on politicians to solve your financial problems. Just take a look at their records and you will understand why. Take action today!

Until next time,
Take Control of Your Finances!
Barry Page

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.
His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

What Are You Worth? Reevaluating Your Human Life Value

2011-05-04T15:13:00.000-07:00

How To Live a Life of Abundance
by Investing in Your Human Life Value

Today is the perfect day for me to post this blog on human life value, as it is my birthday. As we grow older we tend to appreciate our health and others more, and I want to share with you what I have learned. Fortunately, I have been blessed beyond my expectations with spiritual, physical and material gifts. In reading this I’d like you to consider your worth and the impact you have on others lives.

Throughout our lives we are told that financial success and material worth is what we should strive for. We’re told that we should invest for the long-term and put our money into the stock market. When you follow this financial advice you are devaluing your importance as a person and decreasing your worth as a human being by basing your beliefs on an economic model that is dependent on opinion.

“The real problem is we don't have any financial education in our schools.” Robert Kiyosaki

When you increase your knowledge and change your life. You can increase your financial IQ by subscribing and reading my free newsletter, Financial Intelligence sm. Click on this link to subscribe: http://legacyinsuranceagency.com/financialintelligence/index.html

The accumulation theory of compounding and the concept of dollar-cost-averaging are the basis for traditional financial planning and have been ingrained into our minds since we were children. These flawed methods of personal economics focus on the accumulation of wealth by consistently contributing to an account and compounding the interest earned over time. When we subject ourselves to this form of thinking we are limiting our human life value.

Over time fallacies and falsehoods develop into myths. Falsehoods developed and perpetuated by so called “financial gurus” limit our productivity and stifle our human life value. Myths destroy our confidence by instilling our minds with doubt and fear.

You have probably heard the following fallacies and myths:
1. You’re in it for the long-haul.
2. High-Risk = High Returns.
3. The market has averaged 10-12% over time.
4. Work hard, go to college and get a good job.
5. Save money, get out of debt, invest for the long-term and diversify.
6. When you retire you’ll be in a lower tax bracket.
7. When you retire you won’t need insurance.

“Myths which are believed in tend to become true.” ~George Orwell

What makes theses myths so destructive is that they are based on a scarcity mindset and are perpetuated from generation to generation. When we embrace the scarcity mindset we are buying into the belief that our resources are limited. Scarcity fails to account for self-worth and further limits our opportunity for ownership and growth.

“Try not to become a man of success but rather to become a man of value.” ~Albert Einstein

In order to achieve our maximum potential we must breakthrough the boundaries of traditional thinking and challenge our minds to live a life of abundance. An abundant life is developed through action and practicing our talents and abilities. Action is created with thoughts produced in our minds based on our knowledge. As we increase our knowledge we increase our abilities and we are free to make our own choices.

When you live a life of abundance you follow your soul purpose and increase your human life value. You are free to focus on God’s work and your personal passions without the limits and confines of a scarcity mindset. You create value in others by sharing your knowledge and developing their abilities. You live a life of prosperity.

God has blessed us with an abundant supply of spiritual and material things. Our challenge is to utilize these blessings to honor God and fulfill our purpose as Christians.

For whosoever hath, to him shall be given, and he shall have more abundance: but whosoever hath not, from him shall be taken away even that he hath. Matthew 13:12

Further reducing our value is people, the media continues to bombard our lives with stories that limit our thinking and convince us that we live in a Darwinistic society. We are told that only the fittest will survive, and that we have to fight for ourselves by struggling to survive and taking from others. Relating this to finance, consider how this theory of economics places you in a position of dependency where we are all pursuing the same finite piece of the pie. Subconsciously we believe that for us to have more, someone else has to have less.

To understand how the scarcity mindset affects our ability we should examine these myths and their origins.

“You’re in it for the long -haul.” – Today’s financial advisers have to convince their clients to invest with them over a long period of time or they could lose their fees and commissions. Correspondingly financial institutions would lose the ability to make money with our money. Where does this method of thought come from? We are told that over time our investments will produce a return, just as the markets have done. The problem with this myth is that it based on a pre-conceived thought of retirement and fails to address the fact that the investor has no control over the market. If the market is down during their period of period of retirement, the investor must wait for the market to return before withdrawing their funds. The damage is when we lock our money up and have to wait until retirement to enjoy the benefits our investments, we give up the ability to live a life of abundance now.

“High Risks = High Returns.” – Certainly with all investments there may an element of risk involved. However, taking on more risk does not constitute a higher return. Somehow, this correlation between risk and return has been taught over and over until most of us believe it to be true. When meeting with a traditional financial planner, inevitably a risk tolerance questionnaire will have to be completed. This further promotes the thought that in order to get higher returns, we must take more risk. So, they are telling us that in order to win, we must be willing to lose! The financial institutions have shifted the risk from themselves to us. They have convinced us to believe that financial success is a matter of gambling. Contrarily, the most successful investors take little risk at all. When we follow this advice we limit our potential and avoid the responsibility of making investment decisions.

“The market has averaged 10-12% over time.” – This is almost laughable when you understand how financial professionals are allowed to legally hoodwink investors into believing this lie. If you look at any of the major markets, they may have averaged 6% to 9% since their inceptions, however the myth becomes more evident when you dig a little deeper. First, the small disclosure in your prospectus, “past performance may not be indicative of future results” is nothing more than an insurance clause for the financial institutions. As a matter of fact, advisers use this clause to joke about the prospect of much larger returns. Second, no mention is ever given to the difference between “average” and “actual”. Just because a stock, fund or index averaged an amount that does not mean that the return was that amount. And, that’s before about fees, taxes and inflation.

This is an example of how advisers legally get away with showing you average returns. But, you have to ask yourself, did you realize the gain? Here’s a chart of the last 11 year history of the DOW:

Work hard, go to college and get a good job. – Nowadays it’s almost a given that you have to graduate college to get a good job. But, who says you have to get a job? When you look at the time it takes to go to college and the loss of income over that time, it doesn’t always make sense. What if you have the qualities of an entrepreneur and the ability to create value in others? Should you stifle this talent and focus on your education? I’m not suggesting that anyone forgo their education, quite the contrary. I’m only suggesting that we evaluate our strengths and follow our soul purpose in life.

Save money, get out of debt, invest for the long-term and diversify. – Over the past 10 years people who have followed this advice have seen their financial worth depreciate and evaporate into the abyss of the stock market. Trillions of dollars were lost in 2000 and in 2008 to normal people who invested their life savings into the stock markets. Diversification to most people is buying a mutual fund through their 401k at work. The truth is that when you follow this advice you are increasing the risk in your financial future.

“Diversification is required when investors do not understand what they are doing.” Warren Buffett

When you retire you’ll be in a lower tax bracket. – Do you believe this? If you do, you’re saying that you are going to be poor. Inflation is eroding your money faster than you can save it and your health is declining while you are getting older. Let’s examine this further, say you are making $100,000 per year, and you have 20 years until retirement when you’ll be 67. This is the time that the Social Security says you can retire to get your full benefit (insert laughter). Over your working years you save $1,000,000 into your 401k. Now you are faced with choices on how you will spend that money. Traditional planning says you can spend 4% per year without fear of running out of money. If you are making $100,000 per year now, could you possibly live on $40,000? Oh, I forgot to mention that after inflation, it will take $ to spend like $100,000 does now. What does retirement mean to you anyway? Will you want to take those vacations you’ve been putting off? Will you want to do things for your kids and grandkids? Back to the taxes and your bracket, if you follow traditional advice, when you retire your house will be paid for and the kids will be grown. So, you want have those tax deductions, what tax deductions will you have in the future? Do you think taxes are going up or down? Here’s a chart showing the history of taxes:


History of the Marginal Tax

When you retire you won’t need insurance. – This is malpractice! Any agent or adviser that tells you this should lose their license. You may not need it, but if you have it you’ll want it, and you’ll be glad if you do. At retirement you are more vulnerable than ever to loss. And, the fact is if you want it you may not qualify for it medically. There is no such thing as “self insurance”. In order for you to fully self insure, you will have to the value of your asset in liquid cash in the event of a loss. Will you have that? If you do and you have a loss, what will you have then?

As you can see these myths can destroy your ability to create wealth and your value as a person. Instead when you follow your soul purpose and focus on creating value in yourself and others you can have a life filled with abundance prosperity.

Your human life value as described by the late Solomon Huebner is the capitalized monetary worth of the earning capacity resulting from the economic forces that are incorporated within our being: namely, our character and health, our education, training, and experience, our personality and industry, our creative power, and our driving force to realize the economic images of the mind.

“Time And health are two precious assets that we don't recognize and appreciate until they have been depleted.” ~Denis Waitley

In closing, I’d like to encourage you take a personal inventory by asking you a few questions. Ask yourself what’s really important to you? Are you protecting the things that matter the most? When you make investments, consider if you are investing in yourself as a person. Will these investments increase your value? Are you expanding your knowledge? What are you reading and whom are you listening to?

"You are the same today as you will be in five years except for two things: the people you meet and the books you read." ~Charlie 'Tremendous' Jones

Until next time, live a life of abundance!
Barry Page, RFC
Registered Financial Consultant
Licensed Life Insurance Agent
www.legacyinsuranceagency.com

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast.

He can be reached here:
http://legacyinsuranceagency.com/contact.html

or here:
http://pma101.com

7 Must Know Financial Tips for the Holidays

2010-11-29T06:05:00.000-08:00

7 Must Know Financial Tips for the Holidays

How To Survive Holiday Shopping and Prosper in the New Year

Holiday shopping is in full swing and even started early this year, but it doesn’t have to be a financial disaster for you. Retailers have been marking down old products and ushering in new ones to convince you to spend your hard earned cash. And, while most Americans have slowed down their spending over the past year, the holidays will unfortunately rid many of them of their savings and cause them to plunge into the financial abyss.

Financing and credit cards only add to the problem. Have you noticed that the credit card offers, that had stopped a year ago, are now coming in droves? You can finance, transfer and live completely in debt! But, you don’t have to fall for these clever financing schemes. Take control of your finances and shop on your terms.

Even the television networks are pulling out all the stops to get you to spend your money without thought. Over the Thanksgiving holiday a morning show had a song and dance skit with the entire production staff dancing and singing. The theme song echoed “Do it - let’s go out and spend…” You have to be kidding me! Forget Christmas and the spirit of giving… let’s spend our way to happiness.

We should all take a step back and remember what really makes us happy, the love of family and friends. Let’s be grateful for what we have, and give our love. Spending our money on unneeded items and useless toys that accumulate dust will never fulfill our true desires.

Most people don’t think twice when acting on an offer and paying $100 month for a new plasma TV, but they break out in hives when asked to save $100 month. What’s wrong with this picture?

So, what can you do? I’ve put together 7 must know financial tips for the holidays. A how to guide for surviving holiday shopping.

1. Make a spending budget and stick to it.
2. Never buy anything that you didn’t plan on.

3. Use cash and debit cards, limiting your use of credit.

4. Shop online for sales and time your purchases.

5. Remind yourself of the burden of debt and focus on the benefits of saving.

6. Shop early and avoid last-minute shopping.

7. Spend your time, not your money, with family and friends.

Let’s take a look at what can happen:

You go to the local big box store to buy some toys for the kids. While you’re there you notice the plasma TV’s are finally coming down to an affordable price and start thinking that maybe this is your chance to get the kids off the living room TV. You can nab the new 50” High Definition TV with all the bells and whistles for about $100 month for 2 years. Or, maybe it’s a new laptop or cell phone with wireless, blah, blah, blah…. Whatever it is, the $100 month is just the beginning, because you’ll need the HD cable or the unlimited data plan to go with your new purchase. And, don’t forget the wasted hours getting it all to work and spent watching useless shows and searching the social networks.

A better picture:

You make a list and check it twice, shopping online to find the best deals. You only pickup the must have toys while shopping and decide to teach the kids some fiscal responsibility and financial stewardship. You take them to see the Grandparents and have them make something special for them. You take a family picture or create an album of the kids growing up. This is so much easier now than when you were growing up because of the digital camera you bought last year. Result, they learn the true meaning of Christmas by giving, and they feel good knowing they took part in something special.

You then take the $100 month that would have been spent on the television and save that money. You treat this money with the same respect that you would the payment on the new techno gadget, forming a habit of saving. You feel good that you have been responsible with your money and you have taught the kids stewardship. After the same 2 years you haven’t really missed anything, all the games and shows have been available via your current setup or online. Gadget prices continue to fall, and you can get an even better deal when it’s on your schedule.

Follow these financial tips and you can prosper in the New Year. Instead of having debt, you can have savings. You’ll feel better about yourself and you’ll set an example for your family.

Have a great holiday shopping season and prosper in the New Year!

5 Ways to Use Your Life Insurance While You’re Alive

2010-11-16T07:57:00.000-08:00

5 Ways to Use Your Life Insurance While You’re Alive
How to finance all of your purchases through you’re own bank

How would you like to use your life insurance while you’re alive? What if you could finance all of your major purchases through your own bank, just as you would with a traditional bank? You can! I’ve put together a list of my top 5 favorite uses of life insurance that you can start using today.

Because of misinformation in the marketplace, most people believe that they should own the cheapest life insurance available. If you follow this advice, you will miss out on life insurance’s most valuable uses. Term insurance provides a death benefit to your heirs, but what about you? If setup correctly, one of the benefits of permanent life insurance is that it allows tax free access to capital while you’re alive. So, if you understand how it works, you are better off owning the most expensive life insurance available. In other words, typically the more you put in, the more benefits you will enjoy.

When you think about it there are 3 to 5 major expenditures that most people make over their lifetimes. So, I thought I would show you how you can take these 5 expenditures and finance them through your life insurance policies. Yes, you may want multiple policies.

1. Automobile Purchases

2. Business Equipment

3. Family Home

4. College Education

5. Funding Retirement

1. Automobile Purchases
Most of us drive and purchase new cars every 4-5 years. Let’s take an automobile that would cost say $30,000 and finance it for 48 months at 6% interest and include an inflation rate of 3% and taxes of 10%. If you traded the cars in, over the course of your lifetime (48 years/12 cars), your adjusted cost after trade and sales tax would be $85,275. However, the lost opportunity costs, had you been able to earn 6% interest on that same money, would be $343,405! What if you could finance all of your automobile purchases through your policy and recapture the costs? You can!

2. Business Equipment
If you plan to start or grow any business venture, you will need access to capital and business equipment. What if you could finance the equipment yourself and/or start your own leasing company without depending on traditional banks? You can! You may also be able to take additional tax benefits when paying interest.

3. Family Home
Assuming your family is growing are you decide to purchase a second home, what if you could finance it through your life policy? You can! All you have to do is capitalize the policy and purchase the home outright through your policy or start paying your traditional mortgage off early using your policy as your own bank.

4. College Education
Without a doubt, funding a child’s college education is one of the main concerns of parents today. While college tuition costs are outpacing inflation, most college savings plans have lost money. What if you could pay for your child’s college and recapture the money to use for your retirement? You can!

5. Funding Retirement
If you ask retirees today what their biggest concern is, most will answer outliving their money. When depending on government programs and a pension, this can be a problem. Maybe that’s why this demographic is one of the largest purchasers of permanent life insurance today. What if you could supplement or fund your retirement completely using your life insurance policy? You can! Having a permanent life policy at retirement allows you to spend your other assets down completely, without the concern of running out of money or leaving your heirs with nothing. And, retirees will appreciate the ability to have access to capital for business ventures and long term care if needed.

So, there you have it, 5 ways to use your life insurance while you’re alive! But, don’t take my word for it, ask any of the hundreds of thousand of Americans who are enjoying the benefits of owning permanent life insurance. The naysayers don't own permanent life insurance and don't know.

You owe to yourself and your family to explore permanent life insurance. You don’t have to get caught up in all the hype of Wall Street, or the misinformation from the media and so called, "financial gurus". And, you don’t have to take unnecessary risks with your money. Life insurance has been around for hundreds of years and has proven to be sound and stable. Maybe that’s why banks own it as their tier 1 capital.

I’d like to recommend a book for you to read, Becoming Your Own Banker by R. Nelson Nash. This book outlines exactly how you can utilize life insurance to finance all of your purchases over your lifetime. If you practice the principles outlined in this book, it will literally change your and your family’s lives forever. You can learn more about the Infinite Banking Concept and purchase the book at http://www.infinitebanking.org/

Free yourself from financial slavery and stop depending on the government and financial institutions. You’ll be glad you did.

Until next time,
Barry Page, RFC
http://legacyinsuranceagency.com/

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

FOX News Interviews Ron Paul and Judge Napolitano on the Federal Reserve

2010-10-08T10:52:00.000-07:00

Until next time,
Barry Page, RFC

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Another Day, Another Worthless Dollar

2010-08-24T21:40:00.000-07:00

Another Day, Another Worthless Dollar

While most Americans are struggling to survive right now, the FAT CATs in Washington are busy spending our money. It never ceases to amaze me how few people really understand what's going on with our government.

I was just watching a little news while I enjoyed my frozen dinner (saving $), and a popular talk show host was commenting on the economy... PLEASE! Get a clue! Why do Americans put so much trust in the media? They invite so called financial analysts on the talk shows and ask them "tough questions" about our country's financial mess.

An article posted on U.S.News and World Report today was "How to Tell if You Have a Good 401(k) Plan" If we can't figure this one out, we're in a heap of trouble... The article touted good points such as getting a generous match by your employer, short wait times to get started, vesting and fees. Duh!!!

The article mentioned nothing about how Uncle Sam ultimately controls the 401(k) and how he can change the rules at his discretion. Or that ordinary citizens have lost Trillions in the market over the past several years. Or that the whole tax deferral hype is a bunch of CRAP!

For many people the 401(k) certainly offers them a way to save money. And, if you get a match, why not contribute up to that point, but not a penny more. But, if you have to risk your life savings in a volatile market with no guarantees... that's more than dangerous, it's insanity.

Why am I so tough on qualified retirement plans? Because I've seen families lose their entire life savings. And, I don't trust the government with the purse strings.

So, what's a person to do? Take control of your money, NOW! There's no other way to put it, take your money and run. I'm no market analyst and I don't have a crystal ball, but the writing is on the wall. The government is broke and they want your money. The stock market is as uncertain as it gets. So I'll ask you, why would you put your money in a 401(k)? If you know anyone who has ever gotten wealthy because of their 401(k), I'd like to meet them.

Recently, I attended the "Night of Clarity" in Nashville, Tennessee. This was a seminar about Austrian Economics and Privatized Banking. The event boasted an impressive list of Austrian Economists including Tom E. Woods, PhD, resident scholar at the Mises Institute and the author of the recent New York Times best-seller Meltdown; Paul A. Cleveland, PhD, adjunct scholar at the Mises Institute, Professor of Economics at Birmingham Southern College and author of several books; Tom DiLorenzo, Professor of Economics at Loyola College in Baltimore, MD, Senior Fellow at the Ludwig von Mises Institute; Robert M. Ebeling, PhD, Professor of Economics at Northwood University, past president of Foundation for Economic Education, and the Ludwig von Mises Professor of Economics at Hillsdale College; R. Nelson Nash, creator of the Infinite Banking Concept and author of the best-selling book, Becoming Your Own Banker; and the authors of the new book How Privatized Banking Really Works, Robert P. Murphy, PhD, Economist and adjunct scholar at the Mises Institute and L. Carlos Lara.

Robert Murphy, PhD and Barry Page, RFC in Nashville

In my humble opinion, EVERY AMERICAN should read the book, How Privatized Banking Really Works. This book will open your eyes to the LIES that have been forced on our country by the government. It will shed light on the Federal Reserve and our banking system. The book is easy to understand and offers references and documentation to all of the subject matter it covers. The best part is that if offers the solution to our monetary problems.

Once we understand the problem inherent in our current system, we can work towards solving the problem. In 1913, with the 16th Amendment, our government created the federal income tax, and later that year the Federal Reserve or central bank. This is suspicious all to itself, but we must understand that the power of these two entities is absolute. They control the money!

But, that's not enough... Politicians are spending your money like it's going out of style.. it is! Our dollars have become worthless because they are no longer backed by gold. The Fed is printing worthless dollars!

How can we change this picture? In their book, Lara and Murphy outline how we can take the power back in three easy steps:
1. Sound Money - link outstanding dollars to Gold. Inflation goes away.
2. Private Banking - the government monopoly will then be abolished.
3. Close the Central Bank - the size and expense of government and taxes decrease while business increases.

It couldn't get much simpler than that. I hope you'll take the time to further your knowledge of banking and money by reading this book. You may also want to visit http://www.mises.org/ to learn why Austrian Economics is superior to Keynesian Economics.

Until next time,
Barry

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages.
His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Don't Believe the Hype about Financial Reform

2010-07-20T09:42:00.000-07:00

Don't Believe the Hype about Financial Reform The Unintended Consequences of Investing with Uncle Sam

With all of the hype from the mainstream press about financial reform, consumers might assume that the Dodd-Frank bill will actually help their financial portfolio. A closer look though at the affects of the financial regulatory changes might reveal some unintended consequences.

Over 800 pages of politically charged financial regulation can be found in the bill. And while, from a consumer standpoint, this may sound like a good thing, it will probably add to the confusion already involved with investing. The legislation does provide some protection for the consumer, however these small improvements will have little positive impact for the average family.

Once again the Federal Reserve has bypassed scrutiny and emerged as the ultimate financial regulator. Nary a mention has been given to auditing this cartel though that was the first intent of Congressman, Ron Paul.

Taking a look at what will actually occur for most, we will cover the most common places that people park their money.

Qualified Retirement Plans (401k, 403b, IRA, etc)
Popular investments such as those offered by employers, because they may offer tax-benefits and are considered to be conservative, could see these regulatory decisions affecting the costs and availability associated with these plans. What's worse is that the full affect of the reform may not be known for some time.

Because of the gray area left in the bill, regulators have 15 months to study the issue. This could ultimately drag down the returns of these investments. Primarily these studies will involve "swaps", "wraps" and "derivatives", all of which can be found in typical retirement accounts. Kent Mason, partner at Davis & Harman LLP and outside counsel to the American Benefits Council, says this "would have an immediate and very troubling effect on 401(k) plans across the country."

Mutual Funds
Although their is little mention of mutual funds in the Dodd-Frank bill, it is likely that the legislation will affect the holdings of these funds.

Their is also uncertainty for bond funds which could further increase volatility. The (FDIC) Federal Deposit Insurance Corporation, will have more control to sieze troubled financial institutions, and have leeway to pay investors differing amounts on bonds, though they may be holding identical bonds issued by that particular institution. This could cause uncertain investors to dump the bonds at the first sign of trouble or to demand higher yields.

Bob Auwaerter, head of fixed income at Vanguard Group says this "can have all sorts of unintended effects". The potential result is unequal treatment of bondholders which "will reduce liquidity and lower the price."

Even worse, typical mutual fund investors, who are prone to trying to time market-buying decisions, could be affected by advertising. "Hot funds", touted by financial magazines, coordinated with advertising could result in misinformation being passed along to consumers.

Derivatives
At yearend 2009, there were $464 TRILLION in outstanding derivatives. While the new bill seems to focus on this problem, it is doubtful that the new provisions could have prevented the financial crisis.

Dividends
Probably the most troubling to investors is the taxing of dividends. Without further congressional action, the top dividend tax rate will skyrocket to 39.6% in 2011. Senate Finance Committee Chairman, Max Baucus (Dem. Mont.), will be a key player in the future debate over the taxation of dividends.

Brokerage Accounts
The (SEC) Securities and Exchange Commission will have authority under the bill to impose the same standard of "fiduciary" duty on brokers that currently apply to investment advisors. Meaning that brokers must provide advice that is in clients' "best interest". What exactly does this mean? How does a broker, that you have probably only spoken with on the phone, know what is in your best interest?

The bottom line is that the bill will provide minor improvements to consumer laws that regulate the financial industry. BUT, the major changes resulting in increased regulation will affect everyone from banks to insurance companies, resulting in more confusion and less profits.

Fortunately, there is one financial instrument that can keep you out of the confusion and chaos that congress continues to pursue. If you do your homework, you'll find that good, old-fashioned whole life insurance has survived for hundreds of years intact.

There are many flavors of life insurance, so you'll want to make sure you are dealing with an experienced agent that does business with a "mutual" life insurance company. Mutual life insurance carriers pay dividends to policyholders, and the owner of the contract controls the policy. You can learn more about the extraordinary benefits offered by whole life insurance here: http://legacyinsuranceagency.com/lifeinsurance/wholelife.html

Until next time,
Barry Page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Are You Tired of the Market Roller Coaster? Here's What To Do

2010-06-30T19:41:00.000-07:00

Discover the Alternative To Traditional Investing

While the market goes up and goes down, you don't have to. You can get off of the roller coaster and discover the alternative to traditional investing.

There really is a better way... and it won't keep you up at night.

You’ve probably heard that life insurance is a bad investment. And, that you should buy the cheapest term insurance available. Well something else that you’ve probably heard is “you get what you pay for.”

YES! You can protect your hard earned money and build wealth using tried and true, dividend paying, life insurance.

While the investment firms and banks want you to believe that the stock market is the ONLY way to invest and make money, they too own life insurance.

BOLI is the name for Bank Owned Life Insurance, and if you'll do your research you'll find that all of the major banks own lots of it. As a matter of fact the FDIC (Federal Deposit Insurance Corporation) actually encourages banks to own life insurance: http://www.fdic.gov/news/news/financial/2004/fil12704.html

Total BOLI Assets (in billions)
Held by Bank Holding Companies in 2007
BHCS BY ASSET SIZE 2007 2006 Change
Over $10 billion $ 104.63 $ 88.59 18.1%
$1B - $10 billion $ 9.89 $ 9.55 3.6%
$500M - $1 billion $ 3.03 $ 2.86 4.5%
All $ 117.55 $ 101.00 16.4%
*Source: Michael White-MullinTBG BOLI Holdings Report - 2008 edition

BANKS THAT OWN BOLI State BOLI
Bank of America NC $ 13,883,173
Wachovia NC $ 12,874,000

JP Morgan Chase OH $ 7,181,000

Citibank NV $ 3,281,000
Regions Bank AL $ 1,253,146
Bancorp South MS $ 168,005
*Partial list compiled from: The Pirates of Manhattan

If permanent life insurance is such a bad investment, why do you think banks own so much? And, if you listen to who is saying “buy term” it’s usually the banks and Wall Street. Why? Because they are now selling term insurance and it is the MOST Profitable for them, and of course they want to sell you their mutual funds. Mutual fund managers rake in hundreds of millions of dollars every year, while you take the risk and whether or not they make money or not.

So, why do they tell you to "buy term and invest the difference", while they do just the opposite? Well, that's how they make their money, even if you LOSE... That's right, they make money even when they lose your money. They tell you to buy while the market is down, and to "dollar cost average", what a bunch of crap! Yet, they still won't you to bail them out!

Have you ever considered your what YOUR LIFE is worth to YOUR FAMILY? This is your Economic or Human Life Value. Winston Churchill said this about using life insurance to protect the economic value of a human life:
“If I had my way I would write the word insurance over the door of every house because I am convinced that for the sacrifices which are considerably small, families can be secured against catastrophes which would otherwise smash them up forever.”

The political commentator, humorist and international celebrity Will Rogers said this:
“A man who dies without adequate life insurance should have to come back and see the mess he created.” Rogers later died, in 1935, in a plane crash in Barrow, Alaska—and life insurance benefits were one of his estate’s largest and most important assets.

You too can enjoy the many benefits of life insurance while protecting your family. Here's a partial list of what life insurance can do for you:

It takes care of your family if you die too soon.
It takes care of you if you live too long.
It is self-completing if you become permanently disabled.
The waiver of premium guarantees the premiums are paid.
It can have catastrophic benefits if you have cancer, heart attack or stroke, to help even if you don’t die.
It can have terminal illness benefits that will pay when you are diagnosed, allowing you to put things in order before you die.
It can provide long-term care benefits, drawing from your cash-value.

And, if that isn't enough to get your attention, then you may want to learn about the banking benefits of dividend paying, cash-value life insurance. The Infinite Banking Concept is a way to recapture the interest that you pay to others and put it back into your "bank". You can learn more and order the book Becoming Your Own Banker here: http://legacyinsuranceagency.com/byob

So, get off the roller coaster and stop risking your wealth. You don't have to get out of the market, but you may want to diversify with some safe alternatives like annuities and life insurance. Download a Free Report: http://legacyinsuranceagency.com/alternative

Until next time,
Barry page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.
He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Emergency Financial Planning – Are you ready for what’s next?

2010-05-25T19:08:00.000-07:00

Are you planning for an emergency financial situation? Will you prosper or get plundered in the future?

You already have access to the news and you can choose to read, watch or listen to whatever you want to. There’s good news and bad news in most every story, but how do you decipher the good from the bad? And, who do you trust?

The reason that I share this information with you is expose you to different viewpoints that you may not have access to in the mass media, and to allow you to educate yourself on the facts. As my friend and author Nelson Nash says, “If you know the facts, you’ll know what to do.”

So, you think your money is safe in the bank? Here’s a list of troubled banks from Martin Weiss, chairman of Weiss Ratings. They are rated A-F, just like in school.

What would happen if these banks failed? Loans would no longer be available, fear would prevail, and if your bank failed you could lose interest and access to cash.

You may ask yourself, “How are these banks in trouble when we’ve bailed them out, and the Federal Reserve is loaning them money at practically zero-cost?” A number of reasons actually, including greed, overspending and bad loans.

Delinquency rates are increasing and commercial loans are starting to falter. Some in Congress are already asking for more bailout funds. Another massive refinancing program may be enacted soon. http://www.financialstability.gov/latest/pr_05212010.html

Adding to the problems, the Fed has not only already flooded the U.S. economy with upwards of nearly $2 trillion in newly printed money, they have promised to help bailout Europe... With no end in sight as to how much monopoly money the Fed will print, each and every dollar printed is adding to an unlimited supply of fiat currency.

Will the central banks ever tighten monetary policy again? Chances are slim, they are content merely printing money and causing your dollars to lose value through inflation. Thus cash and long-term bonds, traditionally safehavens, may no longer a good place to hold money.

Equities are more volatile than ever, and the markets are in turmoil. Now financial gurus from the mega-media houses are touting that you buy gold and precious metals to combat inflation… and to get rich?

In turn, speculators are buying gold faster than they can mine it. Analysts are forecasting a 27% rally that would extend the longest run of annual gains since the 1920’s. Gold managers are capitalizing on the anxiety and fear… Have you noticed how many advertisements there are telling you to invest in gold?

Ask yourself, how do you make money with gold? Like anything else right? Buy low, sell high… This is almost laughable, since the common man has not a clue about how to do this. Commissions going in or out can average as much as 18%, so you are down 36% before you even make a dime. Do you buy bullion? coins? ETFs??? And... very few even consider taxes.

We are no longer on the gold standard, what happens when and if another standard comes along? Right now the Federal Reserve is printing money at will, so gold no longer backs your dollars.

How do you spend gold? What do you do with 16oz of gold? Assuming you had $20,000 to buy gold in the first place… What if the government confiscates gold? They have before.

Don’t hear me wrong, I’m not saying gold is a bad investment. But… Just like anything else you have no business investing in gold until you have done your research.

With interest rates being low, the government is punishing savers. The financial institutions want you to buy the latest, greatest products, and most advisors are telling you that now is the time to buy. You are also being told to invest on your own and trade online... How is that working out?

Most American’s lost money in the greatest bull market of all time in the 90’s, even with managed money. And, those who thought they made money have lost it since. How do you realize a gain in the market? You have to buy and sell at the right time.

Certainly you can make profits if your timing is right… But that’s a big “IF”.

Do you think we are at the bottom? Do I have to remind you that less than a year ago the Dow was below 7,000? Other analysts and experts are saying we could see another correction soon… plunging the Dow to 5,000! Take a look at the last 10 years of the Dow.

All the while the government and many bond managers are suggesting that you buy bonds for safety and Treasury Inflation Protected Securities (TIPS), others warn this could be a problem as well.

Social Security is beginning to deteriorate and benefit payments are starting to outpace tax receipts. Baby boomers are retiring, putting more strain on Medicare and Social Security. State governments are borrowing money from the federal government to pay for unemployment and entitlement programs.

A more prudent plan may be to step back, learn from history, analyze our problems and make informed, educated decisions.

Okay, enough bad news. So, what can you do? How can you protect your money from loss, earn a decent return, and not get clobbered by taxes and inflation? The answer is simple really, and it’s nothing new… You may think that today’s economic problems are different from those of the past, but they really are not. Money is the same today as it has been for 2,500 years.

The Problems

Excess Consumption
Excess Spending
Excess Investments
Excess Cash

The Solutions

Stop Overspending
Control Consumption
Maintain Emergency Reserves
Make Safe and Prudent Investments

As is often the case, we need to get back to the basics. In his book, The Richest Man in Babylon, George S. Clason outlines financial principles that have survived for centuries.

Here’s my short and updated version.

5 Simple Steps for Preserving and Creating Wealth

1. Pay yourself first

2. Save a minimum of 10%, preferrably 20%

3. Write down your expenses and buy only those things that are necessary

4. Put your money in safe and liquid assets that appreciate in value

5. Insure your income for the future

Questions to Ask Yourself Before Moving Your Money

If interest rates on CD’s and money markets are less than 2%, and inflatin is 3%, why would you put your money there?
If the market is volatile and you can lose your hard earned cash, why would you invest your money there?
If bonds and gold are no more predictable than other commodities, why would you put money there?
If the Government has control, and can change the rules for your IRA, why would you invest there?

Where should you put your money? It’s not a bad idea to own some or all of the above mentioned financial vehicles, but ONLY after you have protected yourself from loss, created an emergency plan and have excess capital to invest.

Now that you have the basics, there is another advanced concept that you may want to learn. The Infinite Banking Concept™ recognizes that we have a need for finance throughout our lifetime. By utilizing this concept, and the power of dividend-paying whole-life insurance, you can recapture the interest that you are now paying to banks and financial institutions. Anytime you can eliminate interest that you pay to others, and direct that same market rate of interest to an entity you own and control, you will have improved your capacity to create wealth. Other benefits may include tax advantages, risk reduction, protection from creditors, disability and death protection.

In order to make money like the banks do, you need to think like they do… You need to learn and understand banking. You probably already know how to make money with your labors, you just need to understand how your money is flowing and capitalize your own system.

If you do your research you will learn that life insurance has been around for hundreds of years, before the IRS and before the Federal Reserve. Life insurance companies, unlike other businesses, are looking further down the road than the next 5 or 10 years. They are planning for a minimum of 100 years. They have survived depressions, bailouts and crashes.

Mutual life insurance companies are predictable and most have been consistently paying a dividend to policyholders for more than 100 years. Whole life insurance gets BETTER over time. Every policyholder gets the benefit of the same crediting rate, regardless if you buy this year or if you bought it 20 years ago. But, beware of imposters. Universal life, variable life and indexed universal life policies, primarily sold by stock based insurance companies, do not have the same crediting rates, and can have other hazards.

You can take the first steps to securing your financial future today.

Find yourself an agent that practices Infinite Banking: http://infinitebanking.org/links/usagents.php

Read the book, Becoming Your Own Banker™, and do your research, you’ll be glad you did.

Until next time,
Barry Page, RFC
Infinite Banking Think Tank Member
http://www.legacyinsuranceagency.com/

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.
His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Make MIne Freedom 1948

2010-05-18T17:08:00.000-07:00

Today, our country faces hard decisions that will shape our future and determine our freedoms going forward. Every aspect of our lives will be effected by the decisions our legislators are making now.

This cartoon film, originally produced in 1948, makes a striking resemblance to today's issues.

Vote, get involved and protect your family and our country's freedom.

Until next time,
Barry Page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

It's Your Money - Protect it or Perish!

2010-05-08T17:05:00.000-07:00

Your lifetime of hard work, and your family are in jeopardy. The time is now to stand up for your rights as a citizen and protect your faith, family and finances - or perish. Educate yourself on the true history of our country and expand your knowledge of money so you can live a life free from tyranny.

Today our liberty is being threatened because of the power of government. The Internal Revenue Service (IRS) and The Federal Reserve (Fed), ironically created the same year (1913), are seizing land, assets and devaluing our dollar. Your money is being confiscated to fund illegal operations and the International Monetary Fund (IMF).

It saddens me to have to tell you these things - I apologize for being straightforward... But my mission is to spread the gospel... about God's love and about your money... to reveal the facts and the truth.

The United States became what we are because of faith, family and free enterprise. A hundred years ago we were free people, with less government regulation and taxes than the rest of the world. We owned land, produced our own goods, and we believed in Christ, family and our constitution.

God warned us in the Bible of the dangers of government and greed:

"While they promise them LIBERTY, they themselves are the servants of corruption: for of whom a man is overcome, of the same is he brought in bondage." 2PE 2:19

"My people are destroyed for LACK OF KNOWLEDGE: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me: seeing thou hast forgotten the law of thy God, I will also forget thy children." HO 4:6

"For he seeth that wise men die, likewise the fool and the brutish person PERISH, and leave their wealth to others." PS 49:10

"The good man is PERISHed out of the earth: and there is none upright among men: they all lie in wait for blood; they hunt every man his brother with a net." MIC 7:2

Our founding fathers also warned us:

"I am sure there never was a people, who had more reason to acknowledge a divine interposition in their affairs, than those of the United States; and I should be pained to believe that they have forgotten that agency, which was so often manifested during our Revolution, or that they failed to consider the omnipotence of that God who is alone able to protect them." ~George Washington

"A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned - this is the sum of good government." ~Thomas Jefferson

"God grant that not only the love of liberty but a thorough knowledge of the rights of man may pervade all the nations of the earth, so that a philosopher may set his foot anywhere on its surface and say: This is my country." ~Ben Franklin

As a United States Citizen you should be outraged at what is happening to your country. Right before our eyes, history is being rewritten and our freedoms are being stolen from us by amendments to our beloved constitution. Hardly a day goes by when Congress is not adding, deleting or changing this cherished model for our independence.

Currently, Congress is debating whether or not to pass legislation that would alter the powers of the Federal Reserve. Congressman Ron Paul (R-TX), has worked tirelessly in his "Audit the Fed" bill HR 1207 and S 604. The Fed and the Obama administration are fighting this bill to retain power and control of our money.

The bill was gathering momentum until Senator Bernie Sanders (I-VT) caved in and sold-out under pressure by the Federal Reserve and the Obama Administration, and a new bill is now being circulated. The new version of the bill will likely give the Fed even more power, exempting monetary policy decisions, discounting window operations, and agreements with foreign central banks from Government Accounting Office (GAO) audits.

"The current fiscal policy is unsustainable. We are heading to a future where we'll have to double federal taxes or cut federal spending by 60%." ~David Walker, Comptroller General of the United States GAO

David Walker served under both Democratic and Republican administrations. He isn’t trying to get elected he’s taking an honest approach to fiscal policies and economics…

David Walker on CNN http://www.youtube.com/watch?v=q2QE137fRvs

Our markets are in turmoil and volatility is at an all time high. Blame is being thrown around another bailout is on the horizon. This time it is Greece and the U.S. Taxpayers will fund a major portion of the Greek bailout. The Federal Reserve provides 20% of the money for the IMF, and they are the entity that will lend the money. The bailout will be used to pay back the banks that made unwise loans to Greece previously, so they will be saved while taxpayers absorb the losses. Read more here: http://www.businessinsider.com/henry-blodget-guess-whos-paying-for-that-greece-bailout-thats-right-you-2010-5

Most people's impression of the Fed is that they control the money supply and protect us from recessions and depressions through monetary policy, Hogwash!
The Fed is a cartel, originally created by wealthy bankers. G. Edward Griffin, author of the classic book, 'The Creature From Jekyll Island' outlines how and why the Fed was created in his free, downloadable recording found here: http://legacyinsuranceagency.com/creature.html

"The Federal Reserve is the chief culprit behind the economic crisis. Its unchecked power to create unlimited amounts of money out of thin air brought us the boom and bust cycle and caused one financial bubble after another. Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value, and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erode the value of the dollar." http://www.ronpaul.com/

"Economic affairs cannot be kept going by magistrates and policemen." ~Ludwig von Mises

A free market economy, as followers of Austrian Economics believe, is the answer to many of America's financial problems. On the other hand, mainstream economists and followers of the Keynesian model, believe that government should control monetary supply through regulation, deposit insurance and a flexible, fiat currency.

The Austrian Theory of economics is taught and practiced at the Mises Institute in Auburn, Alabama. Lew Rockwell, notable author and libertarian activist, founded the Mises Institute. He also publishes the blog, http://www.lewrockwell.com/ , where he warns of the threats of socialism, among other things.

"Workers and consumers are, of course, identical." ~Ludwig von Mises

Read more at The Quotable Mises: http://mises.org/quotes.aspx

What does all of this have to do with you, your family and your money? You are the engine that drives government. Government feeds off of the people. They exist because of our money, derived from taxes.

How can we protect ourselves? By standing up to big government and educating ourselves on economic policy. Contact your representatives and let them know how you feel. Vote and be heard.

Why should you be concerned? Your freedom depends on it, "Use it or lose it." Your children and grandchildren will be faced with debt beyond their control and will be forever enslaved to foreign governments and elite bankers.

On December 16th, 1773, people just like you and me, "radicals" from Boston, Massachusetts, formed the Sons of Liberty. They boarded three East India Company ships in Boston Harbor and threw 342 chests of tea into the water. This event was in protest of oppressive British taxation and tyrannical rule. It became known as the Boston Tea Party and paved the way towards our country's independence.

Today we are faced with similar circumstances. If we do nothing and do not learn from history, we are destined for failure. Money creates power, and unfortunately, this power in the wrong hands can destroy our nation.

Money and banking are essential in our society, however, when we depend on the government and financial institutions for money, we become slaves to their system. Our knowledge of how these systems work will protect us from their bondage and increase our ability to achieve financial success.

Saving money is what built this country. In recent times we have been led to believe that "investing" in uncertain markets and with banks is the key to prosperity, when in fact this is part of the problem.

You can protect your family and your wealth by creating a system of finance that is independent of traditional banking models. Using a financial tool that out dates the Fed and the IRS, you can virtually become your own banker. This tool is called dividend paying, whole-life insurance. You may have been told by my media entertainers, parading as financial gurus, that whole-life insurance is a bad investment, they are wrong.

Life insurance is the only financial instrument that can guarantee that what you want to happen, will happen. While stock markets have plunged, owners of this centuries old financial tool have prospered. And, when properly administered, it can be used to create your own privatized family banking system that can live on for generations. You can learn more about private banking here: http://bankforlife.wordpress.com/

NOW is the time to ACT while you have time.

Until next time, Protect Your Freedoms!
Barry Page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

2010-04-10T12:02:00.001-07:00

Haley Barbour is speaking to the Southern Republican Leadership Conference

Government Budgeting or Tax and Spending?

2010-03-26T06:34:00.000-07:00

Debt to Consume 90% of GDP by 2020 According to CBO

Just this week the Congressional Budget Office (CBO) released the administration's budget numbers, reflecting the debt to Gross Domestic Product (GDP). According to their own predictions, debt will consume 90% of GDP by the year 2020.

How can we as citizens depend on a government who can not live within its means? We must live within our means in order to survive, yet our politicians refuse not to. Instead they live off of taxpayers as a parasite lives off of its host.

According to Merriam-Websters definition of budget: bud·get
Pronunciation: \ˈbə-jət\ a : a statement of the financial position of an administration for a definite period of time based on estimates of expenditures during the period and proposals for financing them b : a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose.

Does it sound like the administration has planned for financing their expenditures? Do you think they have the resources available for funding their proposals? Where do you think they will get the money?

Take a look at the history of the marginal Federal Income Tax:

You'll notice that taxes spiked up considerably after the "Great Depression" and when Social Security was created. Do you see any similarities today?

Of course, you understand that you also pay other taxes. As a matter of fact in recent years personal taxes increased 42% faster than personal income. State and local government taxes increased 168% faster than national income. The typical American pays more in taxes than they do on food, shelter, and clothing combined.

Here are some examples of taxes we pay. State Income Tax, Social Security Tax, Medicare Tax, Property Tax, School Tax, Sales Tax, Water Tax, City Tax, County Tax, Gasoline Tax, Airport Tax, Hotel Tax, Cable TV Tax, Unemployment Tax, Cigarette Tax, Corporate Income Tax, Marriage License Tax, Liquor Tax, Fishing License Tax, Food and Beverage Tax, Hunting License Tax, Road Usage Tax (truckers), Estate Tax, Luxury Tax, Recreational Vehicle Tax, Utility Tax, Septic Permit Tax, Well Permit Tax, Road Toll Booth Tax, Vehicle Sales Tax, Workers Compensation Tax, Trailer Reg. Tax, Watercraft Registration Tax, Long Term Capital Gains Tax, Short Term Capital Gains Tax, Telephone Federal Excise Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Telephone Federal Universal Service Fee Tax.

There are few ways that you can shelter your money from the onslaught of taxes, so we must consider them all when doing our own budgeting. One such way is by NOT depending on the government. Are you the least bit suspicious when the government creates a plan to give you a tax break on the money that they have taxed you on in the first place. Consider Qualified Plans and the Federal Income Tax.

Another option you may want to consider is banking, but not in the sense that you may be accustomed to. For example, do you find it ironic that the very banks that we as taxpayers were asked to bailout, ask us to invest our money with them? Why is it that banks want to lend us money when we have it, but will not when we need it?

By Becoming Your Own Banker™ and banking with your family you can actually end your dependency on traditional financial institutions and government programs. You can learn how to create a system of finance and your own lifetime bank. http://bankforlife.wordpress.com/

Infinite Banking teaches the process of using your current flow of finances versus consumption of money. Utilizing this concept integrates protection and wealth accumulation enabling you to enhance your assets without creating additional liabilities. Traditional banks understand this, yet they tell us to do the opposite, forcing us into financial slavery.

You owe it to yourself and your family to educate yourself further. Take control of your money now by controlling how your money flows. Read the book Becoming Your Own Banker™ here: http://legacyinsuranceagency.com/byob

Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and Infinite Banking Coach. His goal is to help families live debt free and create generational wealth. He publishes multiple websites and blogs including this one, and can be reached at http://legacyinsuranceagency.com/contact.html

The TRUTH about Fractional Reserve Lending and The Federal Reserve

2010-03-22T10:36:00.000-07:00

Fractional reserve lending is a practice created by the Federal Reserve that allows banks to lend money based on a fraction of the deposits they hold in reserves. Ironically, the majority of banks hold their Tier 1 Capital (reserves they can't afford to lose) in permanent life insurance, but they won't tell you that.

Watch this video as Ron Paul tries to get Ben Bernanke to talk about transparency of The Federal Reserve. And, after all is said Barney Frank steps in and says we should certainly look into what Reagan and Nixon did… http://www.youtube.com/watch?v=5gH2U1ly_aM

Currently, Bernanke is trying to end minimum fractional reserve lending for banks, meaning they would have NO LIMITS on lending! At the present time, banks may not create any more than $9 in additional loans for each $1 they hold in reserve. However, Federal Reserve Chairman Bernanke suggests that this may be changed to ANY amount in loans REGARDLESS of what is held in reserve. If this happens, fractional-reserve banking will become zero-reserve banking, and hyperinflation will occur.

All of this was predicted in The Creature From Jekyll Island: http://legacyinsuranceagency.com/creature.html

Meanwhile, China is raising their fractional reserve limits: http://www.worldmarketmedia.com/970/section.aspx/916/china-to-raise-reserve-requirement-ratioagain

If you are concerned about your family's financial future, this is all the more reason for you to create a system of finance that is not dependent on banks or the government. Learn how: http://legacyinsuranceagency.com/IBC/theinfinitebankingconcept.html

Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and helps families to live debt free and create generational wealth. He publishes multiple websites and blogs including this one, and can be reached at http://legacyinsuranceagency.com/contact.html

GUARD YOUR WALLET!

2010-02-10T13:16:00.000-08:00

The Politicians Want Your Money

As recently as Jan 25, 2010 the Obama Administration proposed Mandatory Retirement Plans. This is the first step towards nationalization and the forced investment of your retirement benefits. Though you may have heard little about these mandatory plans, they will force you to invest in government controlled retirement accounts to support the treasury debt market. As reported in BusinessWeek, these plans will draw opposition.

Why should you be concerned about the Mandatory IRA? By taking control of your retirement plan assets, the government is in essence confiscating your hard earned savings! Your retirement savings could be used to fulfill U.S. Treasury obligations. Unless you believe that Washington Politicians can manage your assets better than you, then now is the time to take control and protect your assets.

While government was meant to protect our nation, think of them as a parasite that feeds off of the people. This is the best description that I can give to describe their thirst for our tax dollars. Like a blood sucking mosquito, they pierce the skin almost unnoticed and then drain the life from us to support themselves.

Cleverly disguised as plans to help Americans save, these forced retirement plans will cause havoc on business and thrust our country into a financial meltdown. From hyperinflation to tax increases to tyranny, the risks involved are HUGE!

This is not an attempt to scare you. It is a fair warning from a concerned citizen. My intentions are to create awareness and motivate you to take action towards taking control of your personal assets. As a financial consultant it is my job and responsibility. I fear the control of U.S. retirement plans will ultimately lead to the confiscation of trillions of dollars in privately held assets.

More Warnings

On January 8, 2010, CNBC’s Rick Santelli, blew the horn about the possible nationalization and forced investment into treasuries. Bloomberg reported that the proposed plan may not be able to support itself. And on January 26, 2010, Fox Business News reported that the National Small Business Association (NSBA) stated that they are “opposed to any mandates that create a new and significant burden on small business.”

As far back as 1981, Ron Paul warned that language had been inserted into the 1981 Economic Recovery Act, Section 314(b) that ruled “collectibles” as not in the “public interest” and therefore prohibited from future retirement plan investments.

Hypocrisy At Its Finest

When our government takes billions in taxpayer money to “bailout” financial institutions like Merrill Lynch and Bank of America, are you not the least bit suspicious? And, when these same institutions advertise that you should invest with them, though they are technically bankrupt, does something seem wrong? They pay themselves outrageous bonuses, yet your account balances have lost billions.

Now that health care reform has been placed on the back burner, Washington Politicians have now focused their attention on more economic stimulus plans supposedly to boost employment. When will Americans learn that government cannot create jobs? Any so-called job creation by the government is only at the expense of private business. The net result is a loss of jobs as workers are pulled from one industry to another and businesses are forced to close.

How Mandatory Retirement Plans Will Work

You will be forced into another scheme, similar to Social Security, consisting of what is now being called a Guaranteed Retirement Account/Annuity (GRA). These plans will be funded by a proposed 5% of your salary. Eventually your existing retirement funds will be pushed into the government program. All of the details will be worked out along the way.

Currently, over $15 Trillion is invested in qualified retirement plans. Retirement savings make up more than 35% of all private assets and Congress has their eyes on this money. When you retire, taxes must be paid on withdrawals from these accounts. Politicians would like nothing more than to have access to these accounts now.

Teresa Ghilarducci is the author of the “Agenda for Shared Prosperity”. She became the Director of the Schwartz Center for Economic Policy at the New School for Social Research. Her plan is to confiscate the assets of the wealthiest Americans and redistribute them through government plans.

As outlined in the proposal, the government will make a contribution into every citizen’s account of approximately $600 annually, covering the unemployed and underemployed. The 5% contribution by “successful” Americans will go into a “guaranteed account” managed by the government, the same people managing Social Security.

The concern is that following the implementation of the GRA program, Congress would create future legislation to end tax deductions and tax benefits of all retirement plans therefore forcing the funds in these plans into the “professionally” managed GRA program. The other concern is that beneficiaries would be cheated out of any benefits left in IRA’s after the death of the participants. Ghilarducci’s plan calls for 50% of all balances remaining at death to be reverted to the federal government, not the beneficiaries.

What to Do

Since this is only a proposal at the time, it could be years before these changes take effect. However, since Congress already controls the rules for private retirement plans they can change the rules, just as they’ve done in the past. The good news is, you have time to protect your assets before this assault. But, don’t wait. Why would you put another dime into a qualified plan? Take an honest inventory of your assets and sit down to talk with your advisor soon. It’s your money, guard your wallet!

Barry Page, RFC is a Registered Financial Consultant and Licensed Insurance Agent. He is an advocate for families and small business, and publishes this blog and www.legacyinsuranceagency.com to promote financial intelligence.

Americans Reject Keynesian Economics

2010-02-06T11:44:00.001-08:00

What is it that politician's don't understand? They seem to think that "we", the taxpayers that pay their salary, don't have a say in government. Well, it's become abundantly clear that American's are fed up with overspending.

In case you aren't familiar with Keynesian Economics, created by John Maynard Keynes, the premise is basically "spend more" and "grow government" to improve the economy. On the contrary, at the time of Keynes, there was also Andrew Jackson's philosophy of Laissez Faire Economics which complemented the Constitution and promoted smaller government.

Another popular economic theory is Austrian Economics, made popular by economist Ludwig von Mises, which focuses on free enterprise. Former U.S. Presidential Candidate, Ron Paul, also embraces Austrian Economics. Paul compares Keynesian Economics and Austrian Economics

More and more American's are waking up to the abuse of power by politicians, and they are speaking up. TEA Parties and the 9/12 Project have helped everyday people to get involved and the movements are gaining popularity.

This report displays the distrust that Americans are feeling towards BIG Government:
Americans Reject Keynesian Economics

Stand Up for Your Rights!
Barry Page, RFC

Barry Page is a Registered Financial Consultant that studies economics and its' impact on families and business. He is an advocate of free enterprise and teaches families how to control their finances and think independently. He publishes www.legacyinsuranceagency.com and this blog to promote financial intelligence.

8 Scary Truths About Your IRA

2009-10-30T12:12:00.000-07:00

8 Scary Truths About Your Qualified Plan (IRA)
And, How To Avoid Being Taxed to Death!

If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN!

Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you. And, the truth may scare you!

Here are the scary facts about qualified plans that you’ll want to know.

SCARY TRUTH #1:
While many people think their Qualified Plans, that’s your 401k, 403b, TSP, SEP or IRA, save taxes; they don’t.
They do 2 things:
1. They defer tax
2. They defer the tax calculation

SCARY TRUTH #2:
Your employer may be making decisions about how your 401k is managed, without your knowledge. More and more employers are now automatically directing more of their employee’s pay into their 401k, and often it is into more risky investments; even though you may have previously chosen your own investments. Much of the money is being re-directed into “target-date” mutual funds, These funds lost so much money last year, that lawmakers and regulators are now analyzing and scrutinizing their actions. Morningstar reported that many that were at or near retirement with these type funds, suffered losses of 32 to 41 percent.

Even scarier, the fees charged on target-date funds are “significantly higher than those charged by other funds on plans’ investment menus” according to MoneyCentral.msn.com on October 10, 2009.

In comparison, the growth in a properly funded permanent life contract is both guaranteed and exponential. You can also predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and how long you could take the withdrawal.

SCARY TRUTH #3:
Many of the important decisions about your employer sponsored IRA (401k, 403b, TSP, etc) may be made by people who may have No Training or education.

According to the November, 2009 issue of SmartMoney Magazine (“The Accidental 401k Planner”), as many as 90% of the country’s employees’ 401k plans are watched over by people who “need no special qualifications and no investing expertise or experience”. Many managers hire brokers to suggest mutual funds, and brokers are not legally required to choose funds with low fees, so the outcome could cost you tens of thousands of dollars over your lifetime.

SCARY TRUTH #4:
The true impact on your wealth from 401k hidden fees is ENORMOUS! While you may be aware of some charges, many fees are not required to be disclosed to you in the 401k or mutual fund prospectus.

And, even scarier, according to a 60 Minutes report, “401k Recession”, over your working career, this can result in your losing up to half of your nest egg!

By utilizing the Infinite Banking Concept™, you can kiss hidden fees goodbye. All costs are already included in the premium, and by properly funding a participateing whole-life policy, you will actually experience reduced costs that are associated with other contracts. So, why not request a Free, No Obligation Financial Analysis now?

Just click the link below to start enjoying the benefits: http://legacyinsuranceagency.com/financialanalysis.html

SCARY TRUTH #5:
As you near retirement your money in your 401k is more at risk. This is because the losses can be greater as your plan accumulates over time. A market loss in your last working years could be devastating. In a recent story in Time Magazine (“Why It’s Time to Retire the 401k”, October 9, 2009), they reported that during the recent market downturn, 401k’s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old counterparts.

A dividend paying, whole-life policy actually becomes more efficient over time, and can provide you with peak growth at retirement, when you will need it most, without the risk associated with the stock market or other investments.

SCARY TRUTH #6:
Borrowing from your 401k can cause double taxation! If you borrow money from your 401k, for any reason before you’re 59½, in most cases you’re required to pay back any loans back in full with interest within 30 to 60 days, or you’ll have to pay income taxes, PLUS a 10% penalty. But, what’s worse is when you repay the loan you are using after tax dollars, so you will end up being taxed again upon distribution.

With a whole-life contract you can set the rules for borrowing and repaying the loan. And, the money received from loans is tax-free up to the cost-basis. Another benefit is that a properly funded policy will also continue to grow, even with a loan against it. A properly trained agent can show you how to receive even more tax advantages from your policy. The average family could expect to recapture hundreds of thousands of dollars over their lifetimes, just by using their life policies as a resource, without having to depend on banks or other financial institutions.

SCARY TRUTH #7:
Deferring income taxes could cause you to PAY MORE IN TAXES! And, that’s assuming tax-rates don’t increase at all. If you are deferring taxes now in a lower bracket, and you get normal cost of living raises, at retirement you could be in a higher tax bracket resulting in a higher tax rate. If taxes go up in the future, then things get even worse.

With a Maximum Efficient Contract, you could enjoy as much as a 150% better lifestyle at retirement without even touching your life insurance policy. If you make withdrawals from your policy, they could be completely income-tax free under current tax law.

SCARY TRUTH #8:
The government is in control of your Qualified Plan! And, just as they change tax laws every year, they can change the rules for your IRA. Think about what’s going on right now with government spending. Where will the money come from to fund these bailouts? Do you know that Congress has changed the rules on taxation of Social Security over the years so that now as much as 85% of Social Security income can be taxed?

So, why not take advantage of a properly funded whole-life policy that can give you protection and peace of mind without government control?

Qualified Plans: Trick or Treat?

Have a wonderful Fall Holiday!
Barry Page
Infinite Banking Think Tank Member
Financial Consultant
www.legacyinsuranceagency.com

Learn more about Infinite Banking here: www.infinitebanking.org

BEWARE: You Are A Target!

2009-10-21T14:02:00.000-07:00

Are The Politicians About To Increase Your Taxes?

It's even worse than we feared! The politicians and Congress are after our money, in larger ways than anyone could have ever imagined. We all feel the pain of taxes, and have feared that they could go sky high, just like they have in the past. But, no one is ready for the full scale assault the leaders in Washington are planning. Everything You Own Will Be Affected By Taxes!

Our budget deficit is already skyrocketing, and it is only going to get worse. You know that our country is in a real mess, and the problem has only been perpetuating for years. Much of this growing snowball has been caused by an archaic tax system and overspending by our Government. Not to mention a failure to address the problems of our social programs. But, instead of using common sense to solve problems, our political representatives have done their best to make things worse. No matter what your tax bracket, your age, or your net worth, everything you own will be subject to vicious attacks!

The Obama administration is ready to unvail another so-called stimulus plan. It will be disguised, and they won’t call it a stimulus plan, but make no mistake... you will be paying for it.

The administration’s health care reform bill has ran into some opposition, and it is unclear what the ultimate outcome will be. However, there is no question that it will cost BILLIONS... if not TRILLIONS of dollars. And, where will the money come from???

Have you heard about the Green Treaty? You can watch a video from Lord Christopher Monckton here: http://www.youtube.com/watch?v=PMe5dOgbu40 This treaty will cost our country billions!

If you have any doubt that Global Warming is a hoax, then please take the time to visit this website formed by over 31,000 scientists who say that it is: http://petitionproject.org/

With his new Nobel Peace Prize in hand, President Obama is set to expand our war efforts by sending as many as 40,000 additional troops to Afghanistan. All while the President avoids direct questions and only alludes to what our real course of action will be. Meanwhile, election fraud runs rampant in Afghanistan, and our troops are faced with indecision. Regardless of what happens, our spending on the war will cost our families for generations to come.

Plain and simple, government is a parasite that sucks money out of taxpayers. The politicians always find a way to disguise their spending in a way that makes it look like we need their help. In other words they try to fix their problems by making us think they are helping us, read qualified plans, bailouts and stimulus. It always takes more tax dollars to pay for their spending.

Policymakers are now eyeing other ways to cover the costs of their new initiatives. The latest idea, which seems to have overwhelming support from the Democrat majority, is to start Taxing You for every securities transaction you make. You read that right, our politicians want to tax you for trading in the stock market!

The Economic Policy Institute is considering a national transaction tax that could raise $100-$150 Billion a year. All stock trades would be taxed at a rate of 0.1% to 0.25% of the value of the trade, and the tax would be levied on all financial transactions.

Though most have missed it, the Transaction Tax has already found its way into law. The President, at the urging of House Democratic leaders, submitted legislation to “recoup” from the financial-services industry any eventual shortfall in the Troubled Asset Relief Program, or TARP.

Representative Barney Frank, Chairman of the House Financial Services Committee, said he supported the idea of recouping future losses from the industry: “I was one of the ones who suggested.” Former Federal Reserve Chairman, Paul Volcker, said “it might be interesting” if Congress ordered further study of the idea of a transactions tax.

The reality is that any time Congress has raised taxes, the result has been higher unemployment and lower standards of living. Think back to the Carter years, 17% interest rates and some of the highest taxes in our lifetimes. Well, we are faced with that same scenario again. Higher Taxes are not the answer, but they are coming...

You see, some politicians think that because you've worked hard to get where you are, then you should subsidize those who have not. How do you feel about that?

Regardless of your income, new and higher taxes will affect you and your family. If you earn more, and pay more in taxes, then obviously you have been pegged, if you lose your job or you retire, then you will be robbed as well.

When you look at the history of taxes, and what the politicians are calling for, things don't look good. And, if you die under current law they will take even more!

The bottom line is that if you make a substantial income, you could soon see your taxes double!"

And, don’t be fooled with recent stock market gains, there is a hidden factor. INFLATION is the STEALTH TAX! Have you noticed how much things cost these days? What will it be like when we retire? Even if we do save more money, it's going to be worth less when we actually need it, UNLESS we have a plan to combat inflation.

What can we do about these HUGE problems? I decided that if I was concerned about these problems, then others must be too. And, many of my clients that were seeing their incomes increase now, were concerned about FUTURE TAXES.

So, I decided to make available to you a free report that outlines exactly how taxes can effect your income now and at retirement. The problems that qualified plans like IRA's, SEP's and 401k's can cause. And, what you can do about it now to prevent being taxed into the poor house!

Fortunately, this report identifies problems and outlines solutions, along with simple steps you can take now to prevent the problems later. All you have to do is enter your name and email and I will instantly send you your free report. It could save you and your family MILLIONS in taxes.
If you want to avoid overpaying your taxes, and don't want to leave your family with a hefty tax bill, get a copy of this eye-opening report for yourself. After all, wouldn't you like to know if you're being fooled?

To get your Free Report simply click the link below and fill-out the easy form. The report is available 24/7 and there is no-charge. And, most importantly there is no one to hassle you.

Click this link for instant access to your free report,
TAXES, The Largest Transfer of Your Wealth.

Until next time,
Barry Page

Barry Page is a licensed agent and financial consultant.
He can be reached online at http://www.legacyinsuranceagency.com/

Wonders of Life

2009-09-10T19:56:00.000-07:00

We live for life’s wondrous moments...
From simple pleasures like enjoying quality time with loved ones to major milestones such as seeing your child graduate or walk down the wedding aisle, these are the moments we cherish most. You work hard to make sure your loved ones have a comfortable life, and hopefully one that includes its fair share of wondrous moments. But if you were suddenly out of the picture, would your loved ones have the same opportunities and quality of life? Life insurance helps ensure that the lifestyle you’ve worked so hard to achieve for your loved ones won’t come to a halt if something were to happen to you.

Time to review your life insurance needs
September is Life Insurance Awareness Month (LIAM), the perfect time for a life insurance review. LIAM is sponsored by the LIFE Foundation, a nonprofit organization whose mission is to help Americans make smart insurance-buying decisions. First, read about the 7 Wonders of Life Insurance. Then, before you contact someone to discuss your needs, go to our Life Insurance Needs Calculator to get a general sense of how much insurance might be right for you. Once you’ve spent a few minutes on our site, you’ll be in a better position to have an informed conversation with an insurance advisor or your benefits manager at work.

To learn more about the wonders of life insurance contact:
Barry Page
(228) 875-5545
www.legacyinsuranceagency.com

Tu Ne Cede Malis!

2009-09-02T07:14:00.000-07:00

Tu Ne Cede Malis!
Do Not Give In To Evil

The motto of the Ludwig von Mises Institute, Tu Ne Cede Malis, should be our battle cry. What is being perpetrated as a means to save our country by unprecedented spending is evil. The government is seizing control of our liberties quickly, and as citizens we must stand up against this evil.

Ron Paul, a student of Austrian economics, has been behind a push to audit the Federal Reserve. On the other side, Ben Bernanke, objects to this “intrusion” into their books, stating that it would cause a massive failure to our financial system. Does it seem ironic to you that Ben Bernanke bailed out Goldman Sachs, but not their nearest competitor, Lehman Brothers?

According to Reuters, 84 banks have failed so far in 2009, over 400 more are in trouble. The FDIC funds have been depleted by 20% due to these failures. And you think your money is safe in the bank? Mostly it is, but that’s not the problem. When banks and government collude to create a system to control monetary supply, now that is a problem. And, our Federal Reserve System is a major source of the problem.

Recently I heard Warren Buffett answer some financial questions about the past year on MSNBC. He said that he didn’t worry about the market or losing money because he knew over the long term that the dollar will go down in value and in turn he would make money. Huh? Does he know something that we don’t?

Later, talking about taxes and what it will take for our economy to recover, Buffett stated that American’s must trust our banks. And, when looking at the market, he likes Wells Fargo and Goldman Sachs, of course.

Shortly after that a commercial comes on that reminded me of a rock band concert ad, it was for Timothy Geithner! MSNBC is throwing a big party town hall meeting where “you” can ask him tough questions….yeah right. If you get a chance, ask him why he lied about cheating on his taxes or how if he can’t figure that out, how he plans to run our country’s accounting and tax system. We have a tax cheat running the IRS and basically deciding the fate of our country… Maybe Obama will be the opening act.

Okay, back to the banks. Banks are failing because of the Federal Reserve System. Ask yourself how a bank can borrow money for less than1%, loan it out for 5% to upwards of 20%, and lose money? Banks use a fractional reserve lending system. This allows them to lend out much more than they have in reserves, taking huge risks.

People are nervous, and rightly so. What can you do? I hear that every day. The good news is that there is something you can do. You need to do the OPPOSITE OF WHAT THE GOVERNMENT IS DOING.

Here’s my short list of what YOU CAN DO NOW:
1. Take control of your finances, now.
2. Curb your spending and save the difference.
3. Spread your accounts around if you keep large amounts of liquid cash.
4. When looking for a secure location to store your wealth consider the solvency of the financial institution, do your research.

As you start to accumulate wealth and educate yourself on how your money is flowing, you will want to ask yourself some questions, and understand who is really in control of your account.

5 questions to ask yourself when choosing a place to deposit YOUR HARD EARNED MONEY:
1. Is my principle guaranteed?
2. Are my funds liquid?
3. Are my funds creditor protected?
4. Are there any tax benefits?
5. Will I earn a competitive return?

Your time is now. If you find yourself in uncertain financial times or with growing concerns over where our country is headed, take control. Use this as an opportunity to explore your passion. Leverage your time and your relationships to pursue your dreams. Protect your liberty and cherish your freedom.

Until next time,
Barry Page

Barry Page is a licensed insurance agent and financial consultant located in Ocean Springs, MS. He can be reached via the web at www.legacyinsuranceagency.com

So Simple, A 13 Year-Old Explains the Bailouts

2009-07-01T16:26:00.000-07:00

Don't Worry, Obama Will Fix Everything...

2009-06-17T19:05:00.000-07:00

Obama Initiative Seeks Fix to Finance Regulations - AP. That was the headline from AP and the story that was widely publicized today, June 17, 2009. Here is a direct quote from the story: "The Obama plan recommends increased powers for the Federal Reserve, which is the U.S. central bank"

Read it here: http://www.thestreet.com/story/10517442/1/obama-initiative-seeks-fix-to-finance-regulations.html

As citizens of the United States, we need to be ALARMED!

You owe it to yourself to learn the truth about the Federal Reserve System. Watch a free video on the history of the Federal Reserve here: http://legacyinsuranceagency.com/banking/banking-history-federalreserve.html

You'll also find the book, "The Creature from Jekyll Island" by G Edward Griffin available on this webpage as well as a free mp3 recording. The book reveals the truth about how the Federal Reserve was created and why our Banking system is a monopolistic cartel.

As citizens of the United States, we need to be ALARMED!

Contact your Congressional Representative http://www.congress.org/congressorg/home/

Join a Tea Party
http://www.teapartyday.com/

How To Survive and Thrive in the New Era of Finance

2009-06-16T12:07:00.000-07:00

How To Survive and Thrive
in the New Era of Finance
Credit and Your Financial Future

Finance and credit, as we know them today, are changing rapidly. Your financial future will be determined by how you use money in this new era of finance. Follow these guidelines to survive and thrive in the new era of finance.

Credit and lending have been slowly tightening over the past year, despite the Fed’s attempts to flood the economy with “Fiat” money. And, this new legislation wrapped in an ACT to supposedly protect the consumer will only create more stringent guidelines and qualifications for lending.

Now this isn’t completely bad news, because American’s need to quit borrowing and depending on credit cards to finance everything they buy. However the ability to access capital can be crucial, and you should be aware of the most effective and efficient ways to borrow money.
In today’s fast-paced world we are often lured into buying when we ought to be saving. Saving takes discipline, and with the ease of purchasing using a credit that makes the task that more difficult.

By learning how cash flows you can reverse the trend and recapture some of the interest you now pay to others. How you finance and pay your expenses will have an enormous effect on your lifestyle today and how you spend your retirement income tomorrow.

PROFOUND STATEMENTS:
“You finance everything you buy. You either pay interest to others or you lose interest you could be earning. Anytime you can cut out the payment of interest to others and direct that same market rate of interest to an entity that you own and control, with minimal taxation, you have improved your situation.” ~Nelson Nash

Most all items in your budget are financed either by credit cards or loans. The balance is financed by paying cash, thus, giving up interest that could be otherwise earned.

While creating a financial system to accommodate your income may sound difficult, it can be relatively simple. The primary difficulties you will encounter will be human factors.

Human Factors That Will Affect Your Ability To Create Wealth

1. Parkinson’s Law – expenses rise to equal income.
2. Willie Sutton’s Law – wherever wealth is created, someone will try to steal it.
3. The Arrival Syndrome – I already know everything, so there is no need to learn anything new.

While we may have been told that creating wealth is a factor of the rate of return, that is only part of the equation. Most often the magical rate of return that we are chasing comes with RISK. A better approach to creating wealth will focus on eliminating the eroding factors and maintaining control of the money.

Read the full story here:
http://legacyinsuranceagency.com/financialintelligence/howtosurvive-finance.html

Disability Income Awareness Month

2009-05-27T10:13:00.000-07:00

May 2009 has been Designated as Disability Income Awareness Month

What is DIAM? Disability Insurance Awareness Month (DIAM) is an industry-wide campaign designed to get American workers to think about the need to protect their greatest asset – their ability to earn an income. Becoming disabled and not being able to work is one of the greatest financial risks people face, and yet disability insurance continues to be one of the most overlooked and misunderstood types of insurance today.

Learn how to protect your income with disability insurance by clicking this link:
http://legacyinsuranceagency.com/disabilityinsurance.html

The IRS and Fed Cartel - Thieves!

2009-04-15T12:01:00.000-07:00

The IRS and Fed Cartel

The IRS appears to be a collection agency working for foreign banks engaging in money laundering, extortion racketeering, and conspiracy. Much like the Federal Reserve, it operates under “secret code” and mounds of amendments, clauses and paperwork. Operating out of Puerto Rico under disguise of the Federal Alcohol Administration (“FAA”), the FAA was promptly declared unconstitutional inside the 50 States by the U.S. Supreme Court in the case of U.S. v. Constantine, 296 U.S. 287 (1935), because Prohibition had already been repealed. There is no known Act of Congress, nor any Executive Order, giving th IRS lawful jurisdiction to operate within any of the 50 States of the Union.

Their presence within the 50 States appears to stem from certain Agreements on Coordination of Tax Administration (“ACTA”), which officials in those States have consummated with the Commissioner of Internal Revenue. A template for ACTA agreements can be found at the IRS Internet website and in the Supreme Law Library on the Internet. However, those ACTA agreements are demonstrably fraudulent, for example, by expressly defining “IRS” as a lawful bureau within the U.S. Department of the Treasury.

Moreover, those ACTA agreements also appear to violate State laws requiring competitive bidding before such a service contract can be awarded by a State government to any subcontractor. There is no evidence to indicate that ACTA agreements were reached after competitive bidding processes; on the contrary, the IRS is adamant about maintaining a monopoly syndicate. The identity of the Secretary is not found in title 26 U.S.C.. The only reference to the identity of the Secretary of the Treasury is in 27 C.F.R. at section 250.11 (definitions) which specifically states: "Secretary means Secretary of the Treasury of Puerto Rico".

In 1998, the United States Court of Appeals for the First Circuit identified a second “Secretary of the Treasury” as a man by the name of Manual Díaz-Saldaña.

Contact him and see what kind of response you get:
Departamento De Hacienda
Secretary of the Treasury
Manuel Diaz Saldana
P.O. Box 4515
San Juan, Puerto Rico, 00902
1-787-721-2020

To learn more about the Federal Reserve and Taxes visit:
http://legacyinsuranceagency.com/taxes/taxhistory.html

Much of this blog was reprinted from: http://www.supremelaw.org

Protect Yourself From The Unexpected With Short Term Medical Insurance

2009-04-13T13:04:00.000-07:00

Protect Yourself From The Unexpected with Short Term Medical Insurance

Short Term Medical Insurance or Temporary Health Insurance can help you protect yourself from the unexpected. The unexpected can happen at any time, while you're in between jobs or after college and before you launch your career. So, why take risks with your health?

You can cover yourself with short-term medical insurance, also known as temporary health insurance. Temporary health insurance can cover you when you change jobs, when you move or any time you have a need for temporary insurance. Short-Term Medical coverage is available for individuals and families.

Perhaps you've been laid off or you're between jobs, if so you may want to consider a temporary solution. Usually, temporary insurance can be purchased for 1 month, 3 months, 6 months or a year. Maybe you have moved and haven't decided on the exact type of plan you are looking for. The important thing is to have coverage in case of the unexpected.

With temporary health insurance, underwriting is easy and you can usually be covered by the next day. You can apply online here http://legacyinsuranceagency.com/shorttermmedical.html

Accidents happen, so make sure you are protected.

Be safe,
Barry Page

Barry Page is a licensed health and life insurance agent. He can be reaced online at www.legacyinsuranceagency.com

How To Buy Whole Life Insurance

2008-12-27T09:49:00.000-08:00

Discover The Benefits of Cash Value Dividend Paying Whole Life Insurance

Once you learn how to buy whole life insurance, and truly understand how it works, you can use the cash value to finance everything you buy. This requires discipline though and should only be used with the aid of an experienced agent.

All life insurance policies pay a claim when you die, but whole life can provide many economic benefits while you're alive. If the policy is set-up correctly when you initially make the purchase, you can use it much like any other financial account as a place for your money to reside. The important step is to buy cash value, dividend paying whole-life insurance from a mutual company.

There are but a few mutual companies left today. Most of the life insurance companies have demutualized and become stock based companies. This means their obligation is to their stockholders. Mutual companies have an obligation to their policyholders. To name a few, MassMutual, Guardian, Northwestern Mutual and New York Life. There are more, but those are the major players that have been around for a while.

Before we get started on how to buy whole life insurance, let's take a look at how the policy works. With a Whole Life Insurance Policy the premiums remain fixed for the life of the policy. A portion of the premium is used to purchase and accumulate a guaranteed cash value thus adding a savings element. You can purchase paid up additional insurance as well to increase this cash value. Dividends, which are not guaranteed, may also increase policy cash value. Provided that premiums are paid as specified in the policy, the policy remains in force during the insured's entire lifetime.

The part of your premium that goes into a cash reserve and accumulates as cash value is tax-deferred and can be tax-free if accessed correctly. Generally you can access this cash value at any time, for any reason (Imagine doing that at your bank without a lengthy application and credit report). The reasons could be many including financing a car, a hardship, college, marriage, retirement or critical illness.

While providing many benefits of its own, whole life insurance also makes your other assets stronger. By providing protection, a hedge against inflation and significant tax benefits. With permanent life insurance in place at retirement the owner of the policy can spend down all of his assets if needed without fear of running out of money.

Some of the many benefits of owning whole life insurance:

Tax Deferred

Tax Free *

Estate Tax Free *

Unlimited Contributions *

Competitive Return On Investment

Guarantee

Creditor Protection *

Unlimited Investment Options

Collateral

Liquid, Use and Control

Disability Waiver *

*Benefits may vary based on your situation. All benefits should be examined by an experienced agent and may not work in all cases.

Before you purchase whole life insurance, follow these steps:

Interview and find an agent that represents a mutual life insurance company. Ask the agents how much life insurance they own, and how much is whole life (Pay close attention to see if they mention "human life value" or "economic value".
Once you find an agent and decide on a mutual company, decide how much life insurance you want. You will find this is different than what you may have been told to buy, or how much you need.

You may want to own some term insurance to help you achieve your human life value. If the term is from a mutual company, it is usually convertible to whole life at a later time.
After you decide how much you want you can then determine how to fund the policy. Your agent should help you here, that's what he gets paid to do. Factors will include how long you want to fund the policy and how you foresee yourself using the policy in the future.

A few important riders you should look for include the waiver of premium, and paid-up-additions rider. The waiver will protect you in the event of your disability and the PUA will allow you to overfund the policy as you want to help grow your cash value.

Follow these steps and buy whole life insurance while you are young and healthy. If you have health issues, then you can buy it on your spouse, children or loved ones and you can retain ownership. Whole life insurance can provide many benefits while you are alive and allow you to pass on a legacy of financial independence to your heirs.

Enjoy Life Today, Leave a Legacy for Tomorrow sm,
Barry Page

Barry Page is an experienced life insurance agent. He can be reached at: http://www.legacyinsuranceagency.com/

Post Election Tax Reform

2008-11-19T13:57:00.000-08:00

Campaign 2008 is finally over. Democrats are stunned that they haven't blown it again, and Republicans feel bamboozled, but seem ready to move forward. Barack Obama will be the 44th President of the United States. He'll take office in January with strong Democratic majorities in both the House and Senate and the most sweeping tax proposals since the 1986 tax reform.

Obama himself promised to cut taxes for families making less than $250,000, uh $200,000, via Biden that's $150,000 per year. But who knows how long that promise will last?

Now it's time for Obama's campaign promises to meet economic reality. And one of those realities is that there just aren't as many Wall Street millionaires to tax as there were when Obama rolled out his plan!

Understandably, the media has generally focused on the true bailout provisions of the Emergency Economic Stabilization Act of 2008. But this landmark legislation also contains a bundle of tax law changes that will affect you as an individual taxpayer.

You should take the time now to protect your profits from new tax legislation. The decisions you make now will affect your spendable income and your family's future.

How To Save with Your Life Insurance

2008-09-04T07:50:00.000-07:00

Life Insurance Planning
It May Be Time to Reevaluate Your Policy

You can use life insurance to protect your family and save money in any economy. As the political landscape heats up headlines will abound. Unfortunately, many of these headlines will be of negative news. One recent headline from the Washington Post read “Inflation Climbs to 17-Year High.” So, you are paying more now for what it takes you to live on. Things like food, clothing and gas.

The good news is there is one thing that works as a hedge against inflation, Life Insurance. As a matter of fact, because of mortality rates increasing, the cost of life insurance has actually gone down in recent years. And, as you look for more effective ways to have your dollar last longer and work harder, permanent life insurance provides protection, savings and growth.

So, how can you save money with your life insurance? Well, first you need to evaluate your situation with a qualified life insurance agent to make sure your family's needs are covered. Second, if you currently have enough coverage, you may be able to get a better rate now than when you first applied. Third, there are more and better choices today and your current plan may be out of date.

Let's take a look at some specifics. According to LIMRA, a leading authority on life insurance research, over 68 million Americans have no life insurance and many that do, don't have enough. Some may look at this and say they don't have it because they can't afford it. Nothing could be further from the truth. Life insurance is more affordable than ever, and in many cases it's less than any regular bill every month. And, if you don't have it, your family will ultimately pay more. If you are having problems making ends meet, a qualified agent can help you find money that you are probably losing to fees, taxes and other unnecessary expenses.

Other important points of interest include financing, education, retirement and medical costs. When structured properly, life insurance can provide all of these added benefits in a single product. Proper coordination and integration is required here, so again you will want to seek competent advice.

The bottom line, life insurance provides multiple uses of your money. No other product can guarantee that what you want to happen will happen, regardless of what else happens with the economy, the weather and your health.

So, why not take the opportunity to speak with your life insurance agent today. Your family and charity are depending on you.

Enjoy life today and leave a legacy for tomorrow,
Barry Page
www.legacyinsuranceagency.com

Barry Page is a licensed, independent life insurance agent.
Learn more about life insurance here: http://legacyinsuranceagency.com/lifeinsurance.html

HOW TO CREATE YOUR OWN BANK

2008-08-10T19:17:00.000-07:00

Learn How To Create Your Own Banking System Using the Infinite Banking Concept™

WHAT IF:
· You could recapture all the money you paid for a car?
· You could recapture all the interest you paid on financing it?
· You could make the same profits as the banking institution that financed it?

AND --- DO IT ALL ON A TAX-FREE BASIS!

Infinite Banking teaches the process of using your current flow of finances versus consumption of money, for integrating protection and wealth accumulation enabling one to enhance their assets without creating additional liabilities. If you had your own grocery store would you buy groceries from a competitor's store? If you owned your own bank, would you borrow money from a competitor's bank? Most people agree that if you own a business, it makes sense to fully utilize that business and all its assets for not only your business but also for your personal needs. Yet that is not generally what happens especially when we make significant purchases such as cars, equipment, and homes.

YOU CAN LEARN HOW TO…
· Use available savings and cash flow to build your own “bank”
· Finance things you buy through your own “bank” with loans from your “bank” to you
· Repay your “bank” exactly the same way as you would repay the financial institution you would use otherwise
· Build a system of banks that increases your personal wealth

Consider this, "we finance evetything that we buy." We either pay interest or we give up earning interest.

Here's the problem, the average American pays 34.5 cents of every disposable dollar to interest! And, we are not saving enough money. Currently the American savings rate is near it's lowest in history, comparable to what it was during the Great Depression. Yet, most people are more concerned about earning interest than paying interest. Even if we were saving 10% of our income (the U.S. average is less than 3%), that would mean that our ratio of paying interest to saving is 3 to 1. Rather than fighting a head wind, wouldn't it make more sense to create our own perpetual tailwind?

You can using the Infinite Banking Concept™. Though this concept has been around as long as the process of arbitrage, Nelson Nash was the first to explain in it in an easy to read book,
Becoming Your Own Banker™. The book details how anyone can create their own banking system using ordinary, dividend paying, whole-life insurance.

While the book has it's skeptics, and some naysayers have even called it a scam, the process is undeniable. You will need a coach, preferrably a qualified life insurance agent that practices the Infinite Banking Concept™ themselves. Don't expect to buy life insurance direct from the company, or ask the home office how the process works, they won't know.

So, if you are tired of paying your hard earned money to the banks and financial institutions, and you want to recapture this interest and deposit it into your own bank, then read the book. You'll learn the basics, see lots of examples of how you can use the concept, and understand what it means to be an "honest banker."

You can purchase the book Becoming Your Own Banker™ here: http://www.legacyinsuranceagency.com/BYOB

Stop Paying Interest and Start Earning Interest Now! The possibilities are infinite...

Until next time,
Barry Page
www.legacyinsuranceagency.com

Barry Page is a member of the Infinite Banking Concept Think Tank and a licensed insurance agent.

Managing Debt for Financial Freedom

2008-06-25T18:04:00.000-07:00

Financial Freedom – It’s All About Managing the Here-and-Now
By Barry Page

To help achieve financial freedom we need to manage how we spend our money. This may require us to make small shifts in our spending habits today in order to reap big rewards tomorrow.

One way to help secure bigger rewards over time is to control and manage the here-and-now. For those who find it difficult to pass up the corner gourmet coffee shop, read on.

I’m not professing to create a budget; I think budgets are limiting. Better yet, I think you should create a spending plan. Think of your money as a means to an end. What’s important to you and how can you get there. If you want the money to be there in the future, then you need to manage it today.

Think of the following items you may spend money on every day and how, by making “exchanges” in your spending, you may be able to save a little more for the future. It’s all about maximizing the “equation of exchange”.

1. Credit Cards: There is a lot that goes into determining the interest rate you pay on a credit card. The credit card rate you pay is determined by adding a “spread” to a “base rate”. The spread that is used to calculate your rate is usually determined by your credit history. A less than great credit history may result in a spread 2-3 percentage points higher than someone with a better credit history. So it’s important to maintain a good credit rating. Consider calling your credit card company and asking for a reduced rate; if need be, transfer your current balances to a lower rate card.

2. Phones: I’m not going to recommend you get rid of your cell phone, house phone or cable line. I do suggest you review your phone plans to ensure you have the best plan for your needs. For example, for cell phone users who use the same vendor, you may be able to call each other without being charged airtime or usage. Additionally, review your monthly phone bills to determine how many minutes you actually use; you may be better off reducing the number of minutes.

3. Mortgages and Auto Loans: Experts generally recommend if you can reduce your interest rate by 1 or 2 points on your auto or home loan, and recoup any related closing costs, you may be better off to refinance the loan at the lower rate. Another consideration is to make biweekly payments instead of monthly payments on your mortgage. The lender will receive the money faster and in the future, you should have the loan behind you.

4. Gourmet Coffee: Are you one of those folks who stand in line to order gourmet coffee. At a whopping cost of about $3.00 per cup, instead of buying 4 a day, reduce it to 2. This little spending reduction will save you over $2,000 in one year!

5. Charging vs. Paying Cash: Do you charge just about everything you buy? If you find yourself reaching for the plastic, stop and consider what that convenience is costing you. When making small purchases, pay cash. Paying cash helps with managing your expenditures and over time, becomes a way of life.

6. Student Loans: Are you still paying off student loans? Consider consolidating them into one manageable bill. While this will probably extend the payment period, you may lock in a lower rate. For example, if you’ve already graduated and consolidate your loans by July 1, 2006, you can lock in a 5.375% rate for the life of the loan. Additionally, graduates who consolidate during their grace period (the six months before you have to start making monthly payments) can lock in a rate as low as 4.75%.

Now that you’ve hopefully freed up some money, don’t go running to the closest gourmet coffee shop and purchase a latte with sprinkles. Save the money and take one step closer to financial freedom.

Barry Page is a financial consultant with Legacy Insurance Agency, PLLC
a subsidiary of the
Shield Financial Group
2600 Government Street
Ocean Springs, MS 39564
(228) 875-5545
http://www.legacyinsuranceagency.com

It's Your Money

2008-03-16T14:48:00.000-07:00

If you keep up with the news you have no doubt heard that we are in a recession. This by itself is not our problem; The problem lies in our inability to keep our money out of the hands of our government. Our government, despite their good intentions, has led us into our current situation through out-of-control spending.

Regardless of which side of the isle you come from, or even if you consider yourself an independent, hopefully you can understand that YOU can take better care of yourself than Uncle Sam. If you can not, then you are destined to a life of financial slavery. That may sound a little harsh, but it's tough love.

We have to get our arms around the fact that our current tax system and the IRS confiscate our money regularly and by doing so, deny us the right to think and act on our own. Don't hear me wrong here, because I believe in paying taxes to support our government, so it can function and protect us from foreign interests. But, they are doing just the opposite.

It's easy to follow the crowd and do what our government recommends. However, by doing so you are increasing your risks and giving up your rights.

If you take a look at history, our country was actually founded because of a dispute of having to pay taxes and the Boston Tea Party. After which we actually had a 100+ year period of prosperity. Then came 1913 and the Federal Income Tax.

Our beloved Abe Lincoln and Franklin D. Roosevelt were the culprits that contributed the most to this ever increasing problem of the IRS. As taxes have increased over time we have lost control. Read for yourself on the IRS website: http://www.irs.gov/individuals/students/article/0,,id=177655,00.html

And here's a chart on the history of income taxes:
http://legacyinsuranceagency.com/taxhistory.html

Okay, so you say what does all of that have to do with me and MY Money? Let's take a look at the average American family, Mom and Dad with 3 kids. Dad earns $72,000 a year after 4 years of college and considerable work experience. He has the typical 401k and saves towards his employer sponsored retirement plan. If this isn't you, just stay with me, you'll get the picture.

Mom drives a 5 year old minivan that's paid for, and carries the kids all around to numerous games, parties and events. Dad drives a newer pickup and has a $500/mo truck payment. They live in a normal neighborhood and have 12 years left on a 15 year mortgage with a 6% rate.

Do you think they sound rich? Well according to IRS tax rate schedules that puts them in a 28% income tax bracket. See for yourself, here's the link:
http://www.irs.gov/formspubs/article/0,,id=164272,00.html

Now you may be saying, "Yeah but I made that and I didn't pay taxes." Some people actually believe that because they get a refund check, or because they don't have to pay money in at the first of the year, that they didn't have to pay taxes. What about that withholding that came out of each and every check all year. Uncle Sam loves payroll deduction. And, let's not forget Social Security, Medicare and your 401k. "What? I thought that my 401k actually saved taxes?"

Let's look at each one of these "deductions" one at a time.

1. Fed Income Tax - This comes right out of your check before you have a chance to spend it. You do have an option here, but most don't exercise their rights to hold on to their money until the end of the year. Uncle Sam feels safer knowing you pay him first, and in many cases most individuals do as well. In this example it would be about $250 every 2 weeks.
2. State Income Tax - Don't forget your friendly state government, in this example we'll assume there share would be about $130.
3. Social Security Tax (OASDI) - Again, before you have a chance to count your money, it's gone. We'll talk about the failure of Social Security later, but in this example about $180
4. Medicare Tax - You can count on not seeing this either, but hey maybe it will be around when you really need it at retirement. In this example, it's about $40.
5. 401k - Conveniently, we'll let our All American Dad contribute 5% or $150 to this "plan"so he can fund his pre-tax investment. You can pay him now or you can pay him later.

Maybe this family has some health benefits and they'll contribute another $250 to these coverages.

After all is said and done this family brings home about $2,250 from the $3,000 he earned.

As if you don't already know this, here are 2 different examples to prove the above calculations.

Your Friendly Social Security Administration: http://www.ssa.gov/OACT/COLA/cbb.html

If you would like to calculate your payroll deductions, check out this cool site with lots of calculators: http://www.dinkytown.net/java/Payroll.html

To keep his mortgage company happy, they are also letting them hold in escrow the property taxes and insurance as well, so in reality they'll never see this money either. After this family pays their mortgage, $2,000 PITI, car payment, credit card debt, and normal living expenses, they feel lucky if they have $50 left over to take the family out to eat.

Don't worry about the capital gain taxes, sales taxes and other miscellaneous taxes, we all pay them, right?

They feel fortunate because they are "getting by" and they feel "comfortable", but inside they strive for more. Our media feeds them advertisements of new cars, plasma televisions, wireless phones and movie star lifestyles, and, they eat it up. We can't help but want those things because "everybody" has them and we have to keep up with the Jones's. Sound familiar?

Okay, so back to the point about who's in control of your money. And, how can you keep more of your money? It's pretty simple really, take control.

Watch every penny. I'm serious, if you want control of your money, you need to document every expenditure. When you do, you will take notice. Once this is accomplished you can move forward, because you have to recognize that there is a problem. If you don't recognize the problem, you will not have the discipline to make a change.

Here's 3 steps to Take Control of Your Money:

1. Let's take a look at the paycheck first. Most of your payroll deductions don't have to be deductions at all. By changing your exemptions you can control who holds onto your pay. By doing so, you will have the use of this money. DO NOT change this unless you have the discipline to set this money aside in an interest bearing account with the sole intent of using it at the end of the year to pay your taxes.

The next deduction on your paycheck is your beloved 401k. Now I know Uncle Sam and all of the so called financial gurus tell you to max out this contribution, but you need to understand what is really happening. Your 401k only defers taxes, it does not save you taxes. While the argument is that you will be in a lower tax bracket at retirement, this is a myth. The reality is that you could be in a higher tax bracket at retirement. That's a whole other topic which we will examine another time.

2. In this example the family is paying about $500 per month for medical coverage because the employer is pitching in some of the premium. While that may sound good, it could actually be better. But, because we are so convinced that our employer needs to fund this, and that we need co-payments and low-deductibles, we let even more money slip out the door. Every situation is different and in many circumstances this example may very well be the best option.

If you want control, you should keep 6 months of income liquid in an emergency fund. Now this may seem impossible to some, but you have to start somewhere. If you do, you can raise all of your insurance deductibles and therefore control your money until you actually need it. Doing so will save you hundreds, if not thousands of dollars every year.

By the way, if you think socialized medicine will work, take a look at Social Security and Medicare. Here's the scenario. Social Security was created in 1935 by FDR. It was never intended to support people into their 70's, 80's and 90's. The debt for SS is $10 TRILLION. Medicare was created in 1965 by Lyndon B. Johnson. The debt for Medicare is over $60 TRILLION. Some quick math will tell you that's $70 TRILLION. And, don't worry about what the retiring baby-boomers will do to that.

3. The next way that many lose control of their money is with a 15 year mortgage. We've all been told that we save interest by paying off our mortgage sooner. While it is true that you can save interest, in reality this may cost the average family hundreds of thousands of dollars over their lifetimes. Again, don't hear me wrong. Each situation is different and if your goal is to pay your home off early, you can still do that in 15 years and have MORE CONTROL of your money along the way.

To grasp how a 15 year mortgage gives away control of your money, you'll have to understand some basics:

Your home will appreciate or depreciate regardless of the mortgage.
Because of the interest tax deduction, your net payment may actually be reduced.
Any payment going towards principle may actually increase your risk and decrease the mortgage lenders risk.

For more follow this link for a mortgage comparison using the LEAP financial calculator:
http://legacyinsuranceagency.com/mortgage-comparison.html

To summarize, with FINANCIAL EDUCATION and DISCIPLINE, you can take CONTROL of YOUR MONEY. When you are in control of your money, you can make informed decisions versus having someone else make decisions for you.

Until next time,
TAKE CONTROL OF YOUR MONEY!
bp

Get Out of DEBT and SAVE More Money in 2008

2007-12-29T11:35:00.000-08:00

It's that time of year when we set our goals and try to improve over the past year. Hopefully, saving more money is on your priority list. Since the rate of spending in America is at an all time high and savings is at an all time low (negative for 2006), this is a good topic to help you get off to a good start.
In today’s world it takes work and discipline to get ahead and save. And, with the ease of using a credit card it’s even harder to stay out of debt. While many of the financial gurus will tell you to cut up your credit cards, I’d like to share some information with you that will help you get out of credit card debt and allow you to keep your credit cards.
While most of have been lured to the stock market for more aggressive returns, the truth is you can’t get ahead until you get out of debt. And, while these returns haven’t been that spectacular anyway, why gamble? There are many more ways to maximize your return without risking your hard earned money. Before we get into making money though, let’s take care of some simple housekeeping.
One of the easiest ways to earn a guaranteed return, is to get rid of your bad debt. If you are uncertain of the difference between bad debt and good debt, good debt would be a secured loan on an insured asset, like your mortgage. On the other hand, a high interest credit card that is unsecured or uninsured would be bad debt.
If you are one of the typical American families who carries a balance on a credit card, you can enjoy a huge return, as high as 22% by paying off your credit card balances. The interest rate you are paying now will be the “gain” you receive by paying off the balance. So, if your rate is 18% your return will be 18%. If your balance is 6%, your return will be 6%, nothing huge but nothing to sneeze about either. Primarily though, it is risk free and guaranteed. And, after fees and you’ll be way ahead of most stock purchases or other investments.
The average family today has credit card debt approaching $8,000. And the typical interest rate is about 18%, with many paying even more. If you do the math, an 18% interest rate on an $8,000 balance is $1,440 a year. Can you afford to pay $1,440 a year in interest?
Another way to look at it is, if instead of paying $1,440 a year, you had $1,440 to invest every year for the next 20 years and you earned an average return of only 6% percent a year. Over the 20 years you would have invested a total of $28,880 and your money would have grown to $56,150. More good news is that at that point compound interest is really starting to work for you, and in just 10 more years (30 total), you would have saved a whopping $120,674. There is really no reason not to pay off your credit card debt and let your money start working for you.
So, what are you waiting on? The fact is, if you have high interest, unsecured debt and you don’t act now, you are going to dig yourself a hole that will be hard to ever get out of. It’s easy to get in debt and it can be easy to get out of debt. Here’s a few simple steps you can take to clear up your debt and start saving.
Analyze your budget and see if you are spending money needlessly. Determine exactly where your debt is and take charge of paying it off asap. Don’t be tricked into thinking your saving money in the market or in your low interest savings account until you have cleared up your revolving debt. Use your savings if you have to, but pay off your credit cards. You may be able to consolidate credit cards into one low interest payment, still pay it off. Once you do, you will have cash-flow and you can then truly start to save.
Another option may be to refinance your mortgage, but make sure you are getting an attractive rate and that you are NOT using your mortgage to build more debt. This can be a trap, so if you use this method use caution and discipline.
You should keep your credit card accounts open if they don’t have a yearly fee, this will help you maintain a favorable credit score.Pay your credit card balance off monthly without hesitation. This will help you discipline yourself not to overspend. And, it will keep you out of debt.
Once you have paid off your balances, if you have decided to keep your credit card accounts open, you are now in a position to negotiate the interest rate. There are many ways to do this, but the first is to simply ask. Pick up the phone, call the company and ask for a better rate. If you pay your bill on time, they will probably oblige your request. If not, you may have to threaten to close the account or transfer the balance. It is in your best interest to not close the account, but you only want to keep it open if there is no annual fee.
Traps of Credit Cards
Late Payments - If you have fallen into the trap of paying your bill late, you probably have a high interest rate. Timeliness in paying your bill is the single most important factor in determining your credit score. So, if you haven’t learned this lesson already, pay your bills on time. Banks will sometimes forgive you once or twice, but ultimately there is no excuse for being late.
Exceeding Your Limit - If you overextend your credit limit, you are asking for a higher rate. Generally, you will be stuck with a fee that can be as high as $50, and your company will most likely raise your interest rate.
Paying Too High of an Interest Rate - Some banks will try and charge you a higher rate regardless. And, many have hidden fees and a yearly fee. There is no reason to pay a yearly fee or a non-competitive interest rate when so many banks offer credit cards. If your credit score is above 620, then you are in a position to negotiate.
Closing Your Credit Card Account - When you close your account you are throwing away your history. Your “history” in making payments is a huge factor in determining your credit score. If you close the account, this could negatively effect your score, even if the balance was paid off. So, pay off your balance but keep the account open if there is no yearly fee. If they have a yearly fee, ask them to waive the fee.
Transferring Balances - If you are savvy you can save yourself a ton of money by utilizing balance transfers. On the other hand, if you are not careful you can cost yourself a ton of money as well. The trap is most low interest balance transfer offers are only for the transfer itself. All new purchases are charged a higher rate, usually more than 6%. Understand the rules before making the transfer and do not make new charges on the account.
Using Credit Cards for Cash Advances - Using your credit card at an ATM for cash is a bad idea. Cash advances on credit cards can cost you 20% or more. And, the bank will probably make you pay off your regular balance before allowing you to pay off the advance. This is a trick banks use to charge higher rates, so again understand the rules. Debit cards are free with many checking accounts now, so if you need fast cash just withdraw from your checking account using your debit card.
Okay, now that you understand how to keep your credit cards under control it’s now time to start saving some money. If you’re already saving money that’s great, keep saving. While there are many ways to save money, from sticking it under your mattress to buying into a mutual fund, we will focus on safe, secure and guaranteed returns.
If you have a retirement plan at work consider yourself fortunate. However, you want to make sure you understand how it works. If you have nothing, or if you are not getting the return you want, now is the time to start saving. Regardless of where you are in your life, you can start to save now and live your retirement with dignity.
When considering a savings plan or any investment vehicle, here are some questions to consider:
Are the returns Guaranteed?
Is there a competitive Return On Investment?
Is the gain or growth Tax Deferred?
Is the gain or growth Tax Free?
Are the distributions upon your death Estate Tax Free?
Are you allowed Unlimited Contributions?
Is it Creditor Proof?
Do you have Investment Options?
Can the savings be use as Collateral?
Is it liquid, and do you have Use and Control?
What would happen to the contributions if you became Disabled?
If you do your research (this does not mean reading the opinions of so called experts on the radio and in the magazines), you will find that few savings plans can promise you all of this. Fortunately, one does, it’s called Whole-Life Insurance. And, nothing else offers you the tax advantages, the guarantees, and the ability to control your money, even after your death. You owe it to yourself and your family to explore the uses of life insurance.
Key Points
Use the money you were paying on your credit cards to start to save money.
Discipline yourself to save monthly or at every pay interval.
Watch your money grow by utilizing tax and investment strategies.
Learn more about the uses and advantages of Life Insurance with a free financial analysis from Legacy Insurance Agency. We’ll help you to understand the facts about saving for retirement with no pressure and no obligation.
Until next time,
Get out of Credit Card Debt and Start Saving!
Barry Page
http://www.legacyinsuranceagency.com

Legacy Planning

2007-11-23T15:49:00.000-08:00

Making a Difference, After You Are Gone
Author: Barry Page
© copyright 2007 www.legacyinsuranceagency.com

How do you want to be remembered? Do you want to impact the lives of others for years to come? Your legacy can live on forever with proper planning today.

The obituary in the local paper or the epitaph on a burial marker is sadly all we will have to remember many when they pass. But, this does not have to happen to you. Even if you feel you don’t have any assets or that it is too late, there are steps you can take to ensure that you leave a legacy for others.

Most people think that leaving a will, or designating a beneficiary on their retirement account, is all they need to do to safely pass on their assets to their loved ones. While this may be a strategy, it does not maximize the transfer of wealth and there are tax and legal ramifications that should be considered.

If your estate is already worth a substantial amount, then there are precautions you may want to seriously consider while you are still in control. How would you feel if the assets that you spent your entire life building were subject to probate or excessive taxes? Or the house you left your children became a subject for controversy and split the family apart? And, if the taxes levied on your estate consumed the bulk of the assets, would that be prudent?

The first step in planning your legacy involves properly structuring a strategy today. You should first seek legal counsel and determine what it is you would like to achieve. A good CPA should be able to provide tax advice and be utilized as well. However, it is imperative that you choose the advice of licensed professionals that have experience in the areas of estate planning. Ironically, many of today’s so called “financial planners” may actually be the ones you may want to leave off of your legacy planning advisor list.

The most important advisor you can have may have the initials CLU after their name, but most certainly they will merit the representation of one America’s fine mutual life insurance companies. The term mutual is very important because it relates to your mutual ownership in the company. This advisor will also have a fluent understanding of this company’s products and services.

Quite simply, the most prudent financial decision you could ever make today also ensures you can leave a legacy for others. And, it also avoids many of the tax and legal issues that usually follow the passing of a loved one.

Life insurance that is properly structured for a holistic approach to legacy planning ensures your control over your assets today and in history. The dollars you use to purchase whole life insurance from a mutual company today may very well be reused by your family and ancestors to achieve financial success in years to come.

Using this approach, your other assets will be relieved of pressure and be used to enjoy today. Reverse mortgages can be utilized and real estate can be sold. Assets can be used when you want or sold with timing at a premium. Risks are minimized and health care issues no longer demand fear.

You can determine your legacy today. Take care in making your decisions and make them now while you have time.

Barry Page

How to Create Wealth

2007-07-08T14:27:00.000-07:00

Although many may not admit it, most of us desire to be rich. We want to create wealth and not have to depend on ourselves or anyone else to live comfortably. How to create wealth is the stumbling block that holds us back.

That being said, our perception of "comfortably" is what seperates the wealthy from the middle class. If you want to increase your financial intelligence and create true wealth for your family, you must organize, plan and take action.

MUST HAVES:

A Burning Desire - It's one thing to say you desire to be wealthy, but it's another to be driven by your desire.

Specialized Knowledge - organizing and using your knowledge with a definite plan of action.

Call to Action - Once you are organized , you must put your plan in action with a consistent effort.

WHAT IT TAKES:

Conditioning of your mind – You are where you are today without accident. Your mental conditioning is inherent. In order to prepare yourself for the future you must prepare your mind with mental conditioning.

Change of habits – You have habits now, good and bad. If you want to change your life, you have to change your habits.

A solid foundation – to create true wealth you must create a solid foundation. A solid foundation means protection, savings and growth.

Consistent effort and attention to detail – A consistent effort to improve and attention to detail are essential for long-term growth.

ACTION STEPS:

Organize Your Financial Filing Cabinet
What does it look like now? Do you have a financial junk drawer?
Create a Filing System (Organize by date and kind)

Insurance Statements
Bank Statements
Investment Account Statements
Credit Card Statements
Expenses
Phone, Utilities
Business Entity Documents
Real Estate Documents
Wills and Trusts

Open Your Wealth Accumulation Account

Money Market or similar with EFT options
Deposit at least 10% EVERY time you get paid

Create Your Income Statement

Balance Sheet
Income and Expenses
Cash-Flow

TIPS:

Have an emergency fund - Have at least 6 months' income in a money market account that can be accessed easily.

Pay yourself first - Start a systematic savings plan. Discipline yourself to save 10-20% of your pre-tax income into a wealth accumulation account.

Spend less than you earn – This may seem obvious, but discipline is key here.

Pay your bills on time - Avoid needless late fees.

Avoid debt to the extent possible - Student loans and mortgages can be "good debt", Use “tax advantaged” liabilities whenever possible. But, make paying them off a priority.

Set a budget - live by it, use a software program or just a paper and pencil.

A consistent effort is needed to preserve wealth once it is created. "Easy come, easy go" is relevent here. A continuous curriculum of financial education will create confidence, success and happiness.

Start your journey of creating wealth today by subscribing to Financial Intelligence

Until next time,
Barry Page

Give the Gift of Financial Education to Graduates

2007-05-31T14:40:00.000-07:00

It’s an exciting time for seniors everywhere as they graduate from High School and College. And, as we celebrate their accomplishments, gifts are an important way for us to contribute. It can be a good time to offer a gift to graduates who are about to take a big step into the real world.

Many graduates will enter the work world and others will continue on with their education, but chances are whatever they do they are not financially prepared. As important as their academic education is, their financial education is questionably the most important in securing their future.

So, how can you give a gift to a graduate that shows your love and caring for them while also pleasing the recipient? Sure a nice sports car or some cash would be pleasing, but what does that say to them as they are entering a world where debt and lack of savings runs rampant? It could be that they have earned these special gifts and now is the time to reward, but another gift may be more appropriate.

With that in mind, a gift that promotes financial education may be better suited for a recent graduate entering the cruel world. Here are a few financially intelligent gift ideas for high school or college graduates that will prepare them for a lifetime of financial success.

1. Publication - Many authors offer books, games and audio/video publications that can prepare anyone for today’s fast-paced world. A few of my favorites are George Clason, Napoleon Hill and Zig Ziglar, to name a few. Their publications provide a variety of knowledge from Biblical guidance to modern day wealth creation. Their books also provide a multitude of information and advice for building a solid financial foundation.

2. Training Seminar – A real estate, entrepreneurship, or similar financial seminar taught by a respected speaker such as Robert Kiyosaki, will provide a lasting impression on a young mind that will last a lifetime. At the seminar they will most likely meet others who are ambitious, and this could be encouraging to a budding entrepreneur. Many seminars are primarily sales pitches to sell products, so make sure you choose one that is educational in content.

3. Whole Life Insurance – While on the surface this may sound unimportant to a young person that is healthy, but it will provide a lifetime of financial stability while providing guaranteed security. Permanent, investment grade life insurance can also contribute to the graduate's continuing education in the future, or for the education of their children. It could also be used for many other financial obligations, or as a loan to purchase a car or home. Primarily they will be protected from unexpected loss or illness, and by showing them how life insurance can be used as a financial tool, you can share with them a gift that will keep on giving.

To learn more about financial gifting to graduates read our newsletter Gifting to Young Adults

Give the gift of Financial Education, subscribe graduates to Financial Intelligence

Compare Your Life Insurance Options

2007-05-14T16:56:00.000-07:00

Life Insurance Comparison of Term and Whole Life

Discover if whole life insurance is right for you. Are you wondering what to do when it comes to purchasing life insurance? Losing someone you love is always difficult, but emotional struggles don't have to be compounded by financial difficulties.

Life insurance secures your loved ones future. Life insurance provides tax-free cash benefits, in most cases, to your heirs after your death. This cash (known as the death benefit) can help to replace your income and can secure your family's financial needs.

Typically, Whole Life Insurance has premiums that remain fixed for the life of the policy. A part of the premium is used to accumulate a guaranteed cash value thus adding a savings element. Dividends, which are not guaranteed, may also increase policy cash value. The policy remains in force during the insured's entire lifetime, provided premiums are paid as specified in the policy.

Term insurance is, as it suggests, for a given term. Usually 10, 15, 20 and 30 year terms are available. As you get older the companies will only write policies with shorter terms. The death benefit will disappear when your term expires, or if you renew will increase dramatically. While term insurance provides excellent savings benefits for a short period of time, it is not a long-term solution. The lost opportunity costs and potential loss of the death benefit are the main vulnerabilities.

When deciding between whole-life and term you have to ask yourself if you want to rent or own? With term you are renting and with whole-life you own. While many insurance agents only talk about the death benefit, they seldom ever discuss how many death claims are actually paid on term insurance. This is the biggest reason why term insurance is cheap.

Permanent or whole life insurance can also provide a living benefit. Part of your premium goes into a cash reserve and accumulates tax-deferred. You can generally access this cash reserve at any time for many purposes including critical illness or loans. It can also be used for many other needs like education expenses and retirement income.

Bottom line, whole-life insurance will be there for you and your family, as long as premiums are paid, for your entire life. When considering Life Insurance, speak to a professional and make sure you consider things like retirement, taxes, inflation and your estate.

For more information please visit www.legacyinsuranceagency.com
------------------------------------------------------------------------------------------------Written by: Barry Page President, Legacy Insurance Agency, PLLC Ocean Springs, MS 39564 Barry Page is a licensed insurance agent. (c) Copyright 2007 www.legacyinsuranceagency.com

Personal Finance and Insurance

2007-05-11T13:55:00.000-07:00

Learn tips, tricks and strategies for success in with your personal finances. Personal insurance is essential in protecting your assets, income and life.

Learn more at www.legacyinsuranceagency.com